It won’t fill the gaping hole opening up in American journalism, but it’s better than nothing. The aggregator has earmarked the money for a handful of staff journalists and a network of freelancers. Hope it’s ready for a crush of resumes.
TheStreet.com is worth about $100 million. So is The Huffington Post. But investors are much more optimistic about one of these Web businesses.
The Huffington Post, the liberal response to Matt Drudge, has had an amazing ride in the last 12 months. Has it capped it off by raising another $15 million? Depends on who you ask. Also unknown–how the site will fare when there’s no George W. Bush to kick around.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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