Huffington Post closes $25 million round
Liberal news outlet has pulled in significantly more funding than previous reports suggested in its round from Oak Venture Partners.
Liberal news outlet The Huffington Post has announced its latest venture funding round. The upswing: It is $25 million, .
The funding comes from the Palo Alto, Calif.-based Oak Venture Partners. No valuation was provided, but AllThingsD's Kara Swisher suggests it's slightly under $100 million. The company has 46 employees.
Fred Harman of Oak Venture partners will join Huffington Post's board. Previous investors include Softbank Capital and Greycroft Partners.
This is the company's Series C funding round. Traffic to its Web sitethis fall, but The Huffington Post--started by a team led by political pundit and author Arianna Huffington--has been making strides to expand beyond the left-of-center political coverage that made it famous. Political news sites, many critics speculate, may see a significant drop in traffic now that there's no presidential election filling up headlines, and that's not a good thing when ad spending is tightening amid the economic downturn.
Local news, more video, and a fund for investigative journalism are next on the plate for Huffington Post, according to a press release, in addition to possible acquisitions. There is also a "world news" page in the works, hinted a source close to the company, who added that other coverage areas such as sports are discussed but are further from a launch.