Amazon founder invests in Business Insider

Amazon founder invests in Business Insider News site Business Insider has received $5M from a group of investors led by the fund of Amazon’s founder and CEO Jeff Bezos. Business Insider is one of the most popular business/tech news sites.

In addition to Bezos’ Expeditions Foundation, the news site received investment from existing investors including Institutional Venture Partners and RRE Ventures.

The total amount of money invested in the project is $18.3M. Business Insider attracted investment from a VC Marc Andreessen and the co-founder of Huffington Post Ken Lerer. The amount of Business Insider’s revenue was $10M last year, and its net loss totaled $3M.

Business Insider has about a hundred employees. The project plans to earn at least $15M this year, while the creators of the resource believe that the portal may remain unprofitable in 2013 too.

Amazon founder and CEO Jeff Bezos is in the list of the 20 richest people. His capital amounts to $25.2B.