Image via WikipediaBelow is a quote on the funding rounds for the Huffington Post or HuffPo but there is no mention of the start-up capital. Did the founders Arianna Huffington and Kenneth Lerer start in the proverbial garage, get traction and then raise funds? It is such a clever layout and I reckon that I could use the concept of aggregation to boost the Cambridge Cluster site. It makes it look so much a bigger concern than it actually is. But I love browsing through the videos and am just disappointed that a great picture (and they are great pictures and makes the format so different from the traditional newspaper) takes me through to only text. Would the idea of videos work so well in a the business sector – not sure that we would not soon get fed up with all those talking suits. I wonder what they used.
From the Wikipedai entry on the Huffington Post : ”
In August 2006, it was announced that Softbank Capital would invest $5 million in the online news site, which had grown considerably in popularity in only a year, to help expand it. Plans included hiring more staff to update the site 24 hours a day, hiring in-house reporters, and a multimedia team to do video reports. Alan Patricof‘s Greycroft Partners also invested. The news marked the site’s first “first round of venture capital funding.”
In November 2008, Huffington Post completed a $15 million fundraising from investors. The money will finance expansion including more investigative journalism and the provision of local news across the United States.“