Huffington Post Funding Higher Than Expected: $25 Million
The Huffington Post has raised $25 million in new funding for its site — a full $10 million more than had originally been projected.
The Huffington Post is secured the cash from Oak Venture Partners, as previously rumored and first officially reported in Kara Swisher’s BoomTown column Monday morning. The fresh funding brings the site’s valuation up to almost $100 million, according to estimates quoted in Swisher’s report.
“There is an inevitable shift from offline to online with people increasingly getting their news media online, and this election proved how powerful the Huffington Post could be,” an Oak Venture exec tells BoomTown.
Word first broke in mid-November that Huffington was looking to bring in cash to fund “investigative journalism.” At the time, sources indicated it could be three months before any announcement was made.
Traffic data from Quantcast shows The Huffington Post pulling in a solid 240 million page views per month. It’s down slightly from the 300+ million it was snagging closer to election season, but still an impressive number nonetheless.
