Posted on September 17, 2008 at 5:00 PM
Filed under: Behind the Money | Tech Confidential
Tagged: blogs , Henry Blodget , Silicon Alley Insider LLC , venture capital

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"There's an opportunity to build a new form of journalism," says Henry Blodget, CEO of Silicon Alley Insider LLC, publisher of the eponymous business blog, in a video interview with Tech Confidential.

"What you're seeing with traditional media, especially with regards to business coverage, is that it's cracking apart at the seams," says the former Wall Street Internet analyst.

Newspapers have "an obsolete delivery mechanism that worked for 200 years -- they had a great run. But you would never start a newspaper today and deliver it by a truck and print it." And the trouble with magazines is that they are a week, or even a month, late in covering news, while the problem with TV is that it's one-way.

As the convergence between "pajama bloggers" and traditional media accelerates, Blodget sees a window of opportunity for Silicon Alley Insider, which he describes as combining professional journalism with a conversational tone and "higher-velocity" publishing. "We'll take advantage of this opportunity where everything is being disruptive, and we'll build a company in the middle of it," Blodget says.

Silicon Alley Insider secured a $1 million Series A in July from prominent media and technology angels, including former Wall Street Journal publisher L. Gordon Crovitz, HuffingtonPost.com Inc. co-founder Ken Lerer and Mayfield Fund managing director Allen Morgan. The company is owned by AlleyCorp, a network of six companies co-founded by Kevin Ryan and Dwight Merriman, the former CEO and co-founder of DoubleClick Inc., respectively.

Tech Confidential got a behind-the-scenes tour of AlleyCorp from Ryan, Merriman, Blodget and Gilt Groupe co-founder Alexandra Wilkis Wilson. Click here to see the video interview with Ryan and here for a previous interview with Music Nation CEO Daniel Klaus. Check back soon for our conversations with Merriman and Wilkis Wilson. - Mary Kathleen Flynn

See July 17 post on Silicon Alley Insider's Series A from Tech Confidential
See video interview with AlleyCorp CEO Kevin Ryan
See video interview with Music Nation CEO Daniel Klaus

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