Henry Blodget can hardly hide his smile. In 2003, he was expelled, literamente of Wall Street by the US Securities and Exchange Commission, which found “fraudulent” analyzes that had been conducted for technology companies from its perch on Merrill Lynch. Those were times of hangover bubble dotcom. And were times when Eliot Spitzer began his crusade against the excesses of the US financial high. Blodget was one of his victims. Never again could be dedicated to the world of investment.
But nobody forbade do one thing: to write about finance. And he turned to working in media as ‘Slate’, ‘The New York Times’ or ‘Fortune’. Not content with that, he created. It launched a technology blog called Silicon Alley Insider, which eventually became, in 2007, on ‘Business Insider’ (BI), a digital medium he founded with Kevin Ryan and Dwight Merriman and which initially was devoted especially financial and information technology. And from there, from the success that has been achieved with this publication, Blodget has built a resurrection that on Tuesday drew a wide smile on his face when he learned that the German group Axel Springer will purchase 88% of ‘Business Insider’.
The acquisition value to BI 442 million dollars (395 million euros), and allow the company presided over and directed by Mathias Döpfner reach 97% of the capital. The remaining 3% will remain with Jeff Bezos, CEO of Amazon. That is 88%, and awaiting final approval from the US authorities, Axel Springer will spend 343 million dollars (around 306 million euros).