Political Blog Raises $25 Million In Venture Capital
By Anna Johnson on December 2nd, 2008While newspapers are struggling… blogs are thriving. Well, if traffic increases and capital raisings are any indication. In particular, political blog, The Huffington Post, has seen its unique visitors increase from around 500,000 unique visitors per month in August 2007 to around 5 million in October 2008 (based on comScore figures) and has just raised $25 million in venture capital.
This third round capital injection from Oak Investment Partners brings The Huffington Post’s total amount of funding to date to $37 million. The money will be used to recruit staff (yes, there are some publishers recruiting in this environment!), and to expand The Huffington Post’s offerings into other areas like ‘business, green/clean-tech and investigative news’.
The Huffington Post may also use some of the money for acquisitions…
