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Posts tagged ‘AOL buyout’

Websites like ‘Huffington Post’ gaining steam in gatherer role

Arianna Huffintgon and Kenneth Lerer began the Huffington Post in 2005, a news website that basically gathers already published information from other sources and turns it in to its own content. Although some might look at this as glorified plagiarism, the Huffington Post is emerging as one of the most looked-at publications on the Internet.

It recently was bought by AOL for $315 million — after it started for only $ 1 million — marking its arrival as a majorly-respected news source. The New York Times articles reported the Huffington Post ade about $60 million last year, a welcome sign in otherwise dire times for news publications.

The Times article also mentions the Huffington Post’s status as a news aggregation site, which I touched on above. It produces minimal self content, but its ability to generate readership from “making over” previously published articles has no doubt drawn interest — and, more importantly, money.