The Securities and Exchange Commission may have booted Henry Blodget off Wall Street, but the former Merrill Lynch & Co. Internet analyst has attracted some big fans for Business Insider Inc., which he co-founded in 2007.
A major endorsement for the online news site landed this week in the form of $5 million -- venture capital rounded up by Amazon.com Inc. Chief Executive Officer Jeff Bezos.
“Jeff’s leadership, vision and philosophy at Amazon have been an inspiration to a whole generation of startups and entrepreneurs, including me,” Blodget told Bloomberg News. “It is a privilege and pleasure to have him invest in the company.”
Back in 1998, when Blodget was working as a stock analyst, he predicted Amazon shares would nearly double to more than $400 per share – a level the online retailer's stock soon reached.