Here's the memo from Business Insider CEO and Editor-in-Chief Henry Blodget:
I wanted to share the details of the financing we mentioned last night. (Apologies for not being able to share them then--closing these things is an administrative nightmare, and it took a few hours longer than we hoped).
I'm going to post about this shortly after 10am. Please don't say anything or tweet about it until after the post hits.
Basically, Jeff Bezos is making a significant investment in the company. Our existing investors are also chipping in some more. In total, we're raising $5 million.
This capital will allow us to continue to invest aggressively in many areas of the business, including editorial, tech/product, sales and marketing, subscriptions, and events. As we mentioned last night, it will also allow us to expand our office.