Axel Springer to Buy 88% Stake in Business Insider
September 30, 2015
European digital publisher Axel Springer has entered into a definitive agreement to acquire an 88% stake in Business Insider for $343 million, taking its total holding in the company to 97%; Bezos Expeditions will retain the further shares. BI, which has 76 million unique monthly visitors and will increase Axel's worldwide audience to around 200 million users, had raised a total of $55 million in funding, last securing $25 million at a valuation of $191 million in February. Axel Springer will finance the acquisition through existing credit lines.