Business Insider, formerly known as Insider, has announced its decision to revert back to its original name. Founder Henry Blodget will step down as chief executive, making way for Barbara Peng, the former president of the news site.
In a memo to the company’s staff, Peng revealed that the focus of Business Insider will now be on business news, technology, and innovation. This shift will allow the publication to specialize in these areas instead of trying to cover a broader range of topics.
The history of Business Insider traces back to its founding in 2007 as Silicon Alley Insider during the financial crisis. Two years later, the publication adopted the name Business Insider. With the recent rebranding, the name change has already taken effect.
Blodget, a 57-year-old entrepreneur, expressed his preparedness for the CEO transition, having been planning it for over two years. Moving forward, he will assume the role of board chair and provide guidance to German publisher and owner Axel Springer regarding its U.S. development. Additionally, Blodget will return to his passion for journalism.
It’s worth noting that Axel Springer has acquired several other publications, such as Politico and Morning Brew, since its acquisition of Business Insider.