NEW YORK, March 5 (Reuters) – Business Insider raised $12
million in another round of capital from investors including
Amazon’s Jeff Bezos, Institutional Venture Partners,
RRE Ventures and former Wall Street Journal publisher Gordon
Crovitz, according to a Wednesday post by its founder Henry
The latest infusion of capital values the media company at
about $100 million – about five times its 2013 revenue,
according to a source familiar with the company.
(Reuters) – News reader company Flipboard said on Wednesday it has bought rival app Zite from CNN and struck a content partnership with the cable news network.
The deal is valued at $60 million, according to the CNN Money website. A CNN spokesman called the valuation “inaccurate” but declined to give details.
(Reuters) – News Corp’s education division Amplify on Monday unveiled a digital curriculum aimed at middle school students in a move to kick-start growth in the unit after years of investment.
The curriculum is for English Language Arts aimed at sixth-, seventh-, and eight-grade students, and features content from a library of e-books, dramatic readings by actors, story animations, and role-playing games about classic authors such as Edgar Allan Poe.
Feb 26 (Reuters) – Facebook highlighted on Wednesday
two ad campaigns in an attempt to persuade advertisers that its
massive membership base and ability to home in on specific
audiences makes it a more effective advertising platform than
The No. 1 social network revealed in a blog post some
details about marketing campaigns from AARP and the American
Legacy Foundation to show how Facebook can target specific age
groups among its audience of more than 1 billion global users,
which rivals the number of people watching TV.
Feb 25 (Reuters) – Demand Media Inc warned on
Tuesday that revenue for this year will continue to decline
because of troubles at its flagship advice website eHow.
Demand Media has been hurt by changes that Google Inc
made to its search algorithm in order for people to
receive higher quality search results.
NEW YORK (Reuters) – BuzzFeed has come a long way from cat lists. This month one of its journalists was on the ground in Kiev reporting on the crisis in Ukraine, and last December it published an in-depth article on a Chinese dissident living in Harlem, New York.
The kittens haven’t disappeared, but these days there is serious journalism as well.
(Reuters) – Charter Communications Inc (CHTR.O: Quote, Profile, Research, Stock Buzz), whose bid to take over Time Warner Cable Inc (TWC.N: Quote, Profile, Research, Stock Buzz) was thwarted earlier this month, plans to grow its subscriber base through more deals, its chief executive said on a call with analysts on Friday.
Charter CEO Tom Rutledge made few remarks about the company’s failed pursuit of Time Warner Cable after having mounted a proxy battle last week.
NEW YORK (Reuters) – Thomson Reuters Corp (TRI.N: Quote, Profile, Research)(TRI.TO: Quote, Profile, Research) forecast that revenue would be flat in 2014 and reported worse-than-expected fourth-quarter results, as financial customers in Europe and Asia cut back on spending and the legal business weakened in Latin America.
Shares of the global news and information company fell more than 5 percent to a four-month low on Wednesday afternoon, as Wall Street analysts said it would likely take another year for the business to turn around.
NEW YORK (Reuters) – Thomson Reuters Corp (TRI.N: Quote, Profile, Research, Stock Buzz)(TRI.TO: Quote, Profile, Research, Stock Buzz) on Wednesday reported a steeper-than-expected drop in fourth-quarter earnings, hurt by cutbacks at financial institutions in Europe and in emerging markets, sending its shares down more than 5 percent.
Chief Executive Officer Jim Smith said headwinds at the end of last year were stronger than anticipated, and he saw financial markets remaining “challenged” for some time to come as the global banking system restructures.
NEW YORK/LOS ANGELES, Feb 7 (Reuters) – AOL Inc
Chief Executive Tim Armstrong tried to tamp down a backlash
after he blamed a pension cut on costs stemming from two
employees’ “distressed babies,” insisting that the Internet
provider was focused on families.
Armstrong’s comments on Thursday during a company town hall
meeting about why it was cutting 401(k) contributions caused a
fire storm on social media, overshadowing positive quarterly
results from AOL. It marked the second recent instance when a
gaffe by Armstrong left the CEO with some explaining to do.