Jeff Bezos, Time magazine man of the year 1999, has invested $5 million in the news and slideshow website Business Insider. Bezos' net worth is something like $25 billion, so in real-people money, $5 million to Jeff Bezos is... about 15 bucks. But it's a lot to BI, which has raised around $13 millon so far, and will "do eleven million dollars in revenues this year," according to a New Yorker article from this week. Update!: Bezos is not, actually, investing a whole $5 million; rather, $5 million is the total sum that Business Insider just raised, between an unspecified investment from Bezos and money from previous investors chipping in again.
(In 2011, Business Insider made a profit of $2,000. Last year, while expanding, they lost $3 million. Luckily, ha, ha, Jeff Bezos doesn't care about that kind of thing.)
"Jeff's investment grew out of a dinner he and I had about a year ago," writes Business Insider CEO Henry Blodget in an "internal memo" published on the site. "We talked about the business, and he was excited about it. (He sees some parallels with Amazon). [Ed. note: LMAO] A few months later, he expressed an interest in investing. My reaction was basically 'Hell, yeah!'" Blodget, who recently published a slideshow of his trip on a plane, does not mention how the investment might change the publication's coverage of Amazon.
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