Here’s the official press release from the popular news and blogging site, The Huffington Post, which announced $25 million in funding from Oak Investment Partners this morning.
Sources told BoomTown the investment gives the site, which had 4.5 million unique visitors in September, a quadrupling from a year ago, a valuation of “south of $100 million.”
The Huffington Post, co-founded by Arianna Huffington, will announce this morning that it has raised $25 million, in a single investment from Oak Investment Partners.
The large round, which was led by Palo Alto, Calif.-based venture capitalist Fred Harman, will give the popular online news and blogging site a valuation of “just south of $100 million,” a source said.
The new funding, the Huffington Post’s third, will be used for expansion of its offerings and the hiring of editorial and business talent.
“I think the post-election perception of the Huffington Post has changed in the eyes of advertisers to being a key mainstream news site,” said Harman in an interview with BoomTown last night.
Kara Swisher started covering digital issues for The Wall Street Journal's San Francisco bureau in 1997 and also wrote the BoomTown column about the sector. With Walt Mossberg, she co-produces and co-hosts D: All Things Digital, a major high-tech and media conference.
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