Business Insider raises $5M, but why?

It’s an open secret that Business Insider , the blog network founded by disgraced-stock-analyst-turned-ace-reporter Henry Blodget as Silicon Alley Insider, has raised $5 million in funding from “a number of high profile backers, including Allen & Company LLC, Marc Andreessen, Jim Friedlich of Zelnick Media, and Matt Luckett of Balestra Capital. Kohlberg & Company,” according to a report by paidContent.org. Five million bucks is pocket change to 69-year-old Herb Allen.

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