What is the Huffington Post doing with all that money?
I recently learned that the Huffington Post has secured an additional $25 million in funding on top of the millions that it has already raised.
The Huffington Post, like Daily Kos and Redstate, is what I often refer to as a “mullet blog,” in that it has a few paid front page posters and thousands of unpaid back-enders. It is a mean, lean operating machine and has often been criticized (fairly, in my mind) for profiting off the unpaid labor of its writers.
So the question is: what on earth are they going to spend this money on?
Forget about the fact that you disdain the HuffPO, It takes alot of money to run a business of this size and it’s staff beyond the writers who contribute. Like all people who start out in the entertainment/writing business, they work for scale or less(free) to get to the next level or recognition. No one is putting a gun to the head of a writer to submit his or her story for no money. (remember your start?)
Article Quote: “The money will be used to grow the site’s advertising capabilities, expand its local coverage and reporting capabilities as well as make strategic acquisitions.
The extra financial backing will also help HuffPo in the fight for dwindling ad dollars, which Harman, who is in Palo Alto, California, says has become more of a priority with the dwindling economy:”
“Much of the news media business needs to be reassembled online around an ad-supported model and the timetable for this has been accelerated, not slowed, by this economic down cycle.