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Huffington Post Reels in $25M

Written on: Dec 1, 2008
Author: Kathleen |
: Share; Huffington Post Reels in $25M

ADOTAS – The Huffington Post has closed a $25 million Series C round of funding. Oak Investment Partners led the round. Oak Investment’s Fred Harman will join the company’s board.

Oak Investments appears to be bullish on The Huffington Post’s revenue model, despite the sluggish economy.

“Much of the news media business needs to be reassembled online around an ad-supported model and the timetable for this has been accelerated, not slowed, by this economic down cycle,” Harman said.

The funding will be used to grow the site and acquire other sites. The Huffington Post will also pad out its ad sales team and roll out new content projects, including video and local versions of HuffPost.

“This commitment from Oak Investment Partners will allow us to accelerate our growth, with more verticals, more video, more citizen journalism initiatives, more cities for our local editions, and a fund for investigative journalism,” said Arianna Huffington.

The new proceeds reportedly put HuffPost’s valuation at just about $100 million.

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Tags: behavioral-targeting, finance, huffington-post, interactive-advertising, internet-advertising-news, internet-marketing-advertising, oak-investment-partners, venture-capital and vertical-advertising

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