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Business Insider (Barely) Turns A Profit In '10

In a sobering look at the business of new news media, the Business Insider reports finally turning a profit last year -- of $2,127. "The sum total of our year's worth of effort would barely--just barely--buy us a MacBook Pro," notes BI's CEO and editor-in-chief Henry Blodget. The profit was on revenue of $4.8 million, that vast majority of which came from advertising, according to Blodget.

Calling that revenue number "puny," Blodget says it's still a lot more than the $40,000 in revenue the company made three years ago. Also, if BI can maintain a similar growth trajectory, Blodget will be a very rich man. As a private company, why disclose such a modest financial performance. Blodget simply calls it an "experiment."

Meanwhile, "Even though we're dumb enough to disclose all this stuff, we're not quite dumb enough to make a projection," he adds. "But please forgive us for believing that, if we keep working hard, and we keep getting better, we can eventually get to--and beyond--where Huffpo and Gawker are today (financially)."

Read the whole story at Business Insider »

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