Monday, October 27, 2014
The New York Times Co. and Axel Springer are investing €3 million in Dutch startup Blendle
The New York Times Company and German publisher Axel Springer are collectively investing €3 million ($3.7 million) in Blendle, a Dutch news startup where readers pay by the article, Blendle announced Sunday.
Blendle said it will use the Series A funding to expand to additional European countries beyond the Netherlands over the next two years. In an email, Blendle cofounder Alexander Klöpping wouldn’t elaborate on the company’s expansion plans, saying it “all depends on in which countries publishers are most excited.” Klöpping declined to say how much each company was investing, only that the total was €3 million. Axel Springer, which is making the investment through its venture arm Axel Springer Digital Ventures, also wouldn’t say how much it’s investing. The Times didn’t respond to a request for comment.
Blendle launched publicly in May, and the site has more than 130,000 registered users. Publishers set the prices for how much each of their articles cost, and keep 70 percent of the revenue generated from those stories. Blendle takes the other 30 percent.