We were impressed last month when it was rumored that the Huffington Post may have raised $15 million in new investment, a big accomplishment for a media company at a time when the media economy is in the trash. Well, those rumors turned out to be false. Actually, HuffPo has raised $25 million from a venture capital firm. Amazing. So what will they do with all this cash?
"The company said it would invest in its technology and infrastructure, increase its in-house advertising capabilities, and continue to expand its content offerings — including a new investigative journalism initiative and a rollout of local versions of The Huffington Post in select cities."
So there's the answer to our question about how Arianna plans to fund that investigative venture! The press release also says HuffPo might pursue some acquisitions. They can surely have their pick of anything they want, in this economy. Congratulations: you are no longer HuffPoors! Except for the unpaid writers.