Insider changes its name back to Business Insider as co-founder Henry Blodget steps down as CEO
In a major rebranding move, Insider has changed back to its former name, Business Insider, signaling a “new beginning” and renewed focus on its core business objectives. As part of the rebrand, the company also announced on Tuesday that Henry Blodget is stepping down as the CEO of the business news-focused publication he co-founded in 2007.
Barbara Peng, the company’s president since 2021, will take over as CEO, succeeding Blodget. In a statement, the company highlighted Peng’s instrumental role in steering Business Insider through the challenges of the pandemic and the advertising industry downturn, while refining the publication’s strategy.
The sudden change is part of a broader shakeup at the publication to align with a shift away from general news and lifestyle content. Insider, a unit of German publishing giant Axel Springer, said that its strategic return will focus on business and technology rather than general news.
According to Peng, the rebrand will also prioritize subscriber growth over social media-driven traffic. The decision aims to mark a new beginning for the company and usher in an exciting new era, according to a news release from Business Insider.
“Big news today! Insider is changing its name to Business Insider. You’ll notice I didn’t say we’re changing our name “back” to Business Insider. That’s because although we have had this name before, this move is not about going back. It’s about a new beginning for this company. An exciting new era,” the company said on its website.
Blodget, despite stepping down as CEO, will remain involved in the company by serving on its board, the company. The rebrand comes after a challenging period, including workforce reductions and a publicized dispute with unionized staffers earlier this summer.
Originally launched as “Silicon Alley Insider” in 2007, the publication initially concentrated on covering the New York business community before adopting the name Business Insider in 2009. Axel Springer acquired the company for $343 million in 2015. In 2021, the website dropped “Business” from its name in an attempt to broaden its audience and capture more ad revenue, introducing a subscription offering.
A return to Business Insider “reaffirms our center of gravity around business, tech, and innovation,” Peng said. “We are embracing our roots and focusing on what we’ve done best — storytelling that’s fascinating, unexpected, and always helpful.”
Looking ahead, the company expressed a positive outlook, saying:
“It’s about a new beginning for this company. An exciting new era. And we are beginning this new era bigger, better, and smarter. And more experienced, more talented, more ambitious, more diverse, and more global than anything we dreamed of when we had this name before. We are a badass, bulked-up BI. As you can tell from our bold new logo:”
As you can see, I am fired up to be Business Insider again!”