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Concept
Business Insider
Summary
Insider, previously named Business Insider (BI), is a New York City-based multinational financial and business news website founded in 2007. Since 2015, a majority stake in Business Insiders parent company Insider Inc. has been owned by the German publishing house Axel Springer. It operates several international editions, including one in the United Kingdom.
Insider publishes original reporting and aggregates material from other outlets. it maintained a liberal policy on the use of anonymous sources. It has also published native advertising and granted sponsors editorial control of its content. The outlet has been nominated for several awards, but has also been criticized for using factually incorrect clickbait headlines to attract viewership.
In 2015, Axel Springer SE acquired 88 percent of the stake in Insider Inc. for 442 million. In February 2021, the brand was renamed simply Insider.
Business Insider was launched in 2007 and is based in Manhattan. Founded by DoubleClick's former CEO Kevin P. Ryan, Dwight Merriman, and Henry Blodget, the site began as a consolidation of industry vertical blogs, the first of them being Silicon Alley Insider (launched May 16, 2007) and Clusterstock (launched March 20, 2008). In addition to providing and analyzing business news, the site aggregates news stories on various subjects. It started a UK edition in November 2014, and a Singapore bureau in September 2020. BIs parent company is Insider Inc.
After Axel Springer SE purchased Business Insider in 2015, a substantial portion of its staff left the company. According to a CNN report, some staff who exited complained that "traffic took precedence over enterprise reporting". In 2017, Business Insider launched BI Prime subscription, the service which placed some of its articles behind paywall. In 2018, staff members were asked to sign a confidentiality agreement that included a nondisparagement clause requiring them not to criticize the site during or after their employment.
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