HuffingtonPost, the high-profile blog/network founded by Arianna Huffington, has closed on its much-rumored first institutional round of funding, and the announcement is expected in the next few days, paidContent.org has learned. I have not been able to nail down who all of the investors are, but my understanding is it is a mix of VC and media money, and that the $5 million figure being rumored about is the right ballpark. Considering HuffPo’s close business relationship with Barry Diller’s IAC, his company or Diller himself could be one of the investors, though that’s just a reasoned guess on my part.
The money will be used to expand HuffPo’s activities through its ancillary properties..it has already been doing that through its “Contagious Festival” and “Eat The Press” extensions. The site has also been expanding its online video, through a tie-up with startup Vidavee. It has about $2 million in seed money.
Arianna’s interview with Wired News explains some more of the expansion plans: A politics-free zone on the Huffington Post called Politics Aside that will cover everything from relationships and sex to green living and cooking.
Sarah Bernard, the GM of Huffington Post, refused to comment on our queries.
Related:
—Circle Jerk: More Onion Chatter; Diller’s Humor Deal; HuffPo Chatter
—Huffin’, Puffin’ And Stuffin’; And Diller
—Huffington Post and Diller’s IAC/I Strike National Ad Deal
—HuffPo Seeks $5 Million in New Funding
—Huffington Post Turns Out To Be “Viable Business”—If Traffic Is Gauge