Axel Springer buys stake in Business Insider

Digital media sites continue to attract investors.

The Wall Street Journal has reported that a group of investors led by Axel Springer has paid $25 million for a stake in Business Insider.

Other investors are said to include Jeff Bezos of Amazon. 

Business Insider was founded in 2007 and has expanded into seven international editions round the world.

For Axel Springer the move reflects its strategy of expanding into the digital and English-language market.

Source: Bloomberg.