AOL CEO Tim Armstrong has revealed that annual revenue at the Huffington Post is now in excess of $200m, just three years after the internet giant bought the news platform for $315m.
Whilst still cagey as to the precise dollar figure Armstrong refused to demur when an interviewer at Ignition 2014 put it to him that cash generation could now be $200m or higher, stating only that it was in the region of ‘hundreds of millions’.
To put this in perspective the mighty New York Times generated revenue of $362m in the last quarter.
The revelation is likely to silence AOL critics who said the firm massively overpaid for the then largely unproven website but which now draws close to 120m readers in the US alone each month. Armstrong said: “There's no way we could rebuild the Huffington Post now for even a multiple of what we bought it for. It's a long-term play.”