Insider Inc. to drop Business Insider name amid massive global expansion
Beginning Tuesday, Business Insider's logo will no longer appear on Insider.com's website, the publication's CEO and founder Henry Blodget tells Axios.
Why it matters: The changes signal Blodget's ambition to grow the publication significantly to reach a broader population, and that includes investing in verticals outside of traditional business coverage, like politics, travel and lifestyle.
Catch up quick: The name change is the latest evolution in the publication's nearly 15-year history. Blodget started Silicon Alley Insider in 2007 and later changed the name to "The Business Insider" to widen its scope of coverage.
- Blodget says the team decided in 2016 when it launched "Insider" as a corresponding lifestyle brand that it would eventually phase out Business Insider's name.
- It's since taken many steps to stitch together its "Insider" brand with "Business Insider" on the backend, including combining CMS publishing systems, matching the site formats and combining the editorial and tech teams from both titles.
- Eventually, the URL for Business Insider will be redirected to Insider, but there will still be a dedicated business landing page.
Yes, but: Business will remain a core focus. "We plan to significantly increase investments in our business coverage," Blodget says.
- Nicholas Carlson, the Global Editor-in-Chief of Insider, tells Axios that business and tech coverage are the core of the company's subscription strategy. The company launched a paywall in 2017.
- He says building on those core verticals is a priority, but the company is already beginning to "carefully add" other pillars, like politics. "We've seen good returns on it already in terms of numbers of subscriptions," he says.
- Carlson has been with the publication since its inception as Silicon Alley Insider. He helped co-found Insider Inc. in 2016 and has since led the franchise.
- "A big part of my mission was to bring Insider and Business Insider together."
By the numbers: The combined newsroom includes 500 journalists globally.
- Blodget says the goal is to build Insider into the next-generation global publishing giant online, akin to what CNN built via cable or what The Wall Street Journal and New York Times built in print.
- "Internally, the objective over the next 5 years is to reach a billion people online per month, have a million subscribers and a thousand journalists," Blodget says.
- Carlson says the company plans to hire another 100 journalists this year.
The big picture: Business Insider has thrived since it was acquired by Axel Springer in 2015.
- In October, Insider, Inc. acquired a majority stake in Morning Brew, a media startup that focuses on business newsletters and podcasts.
- Blodget tells Axios that the company is still eyeing lots of potential acquisitions.
What's next: Carlson says the company will continue to focus on its core verticals
of business and tech, but will also invest in widening its coverage of other beats, — like politics, digital culture, and travel — in the near future. The company is also building out a team to cover issues of race around the world.
- Other topics Carlson is excited about include religion, relationships, and parenting.
- "A lot of the business and tech investments will be international," Blodget says, noting that half of the company's audience comes from overseas. Insider has 14 local editions in 8 different languages.
- The goal is to be "a trusted source of truth in a confusing world," says Carlson.