In a strategic move back to its roots, Insider, a unit of German publishing giant Axel Springer, has officially reverted to its original name, Business Insider. This shift, effective Tuesday, signifies a renewed focus on business and technology news, departing from the broad scope of general news coverage.
The rebrand, reported by The Wall Street Journal, coincides with a change in leadership as Henry Blodget steps down from his role as CEO. Barbara Peng, the former president of Insider, will succeed Blodget as the new CEO. This transition comes after more than 15 years since Blodget co-founded the publication.
The move towards Business Insider represents a deliberate emphasis on attracting subscribers over generating traffic through social media platforms. Peng, who previously served as the president of Insider, stated that the rebrand reaffirms the publication’s center of gravity around business, technology, and innovation.
Blodget, 57, expressed that he had been preparing for the CEO transition for over two years. He will continue to contribute to Insider as the board chair, provide advice to Axel Springer on its US development, and return to journalism.
The decision to shift back to Business Insider follows a tumultuous period earlier this year when the company faced criticism and a labor strike after slashing around 10% of its workforce. The move was prompted by a decline in traffic and questions regarding the website’s strategy.
The rebrand and leadership change underscore a strategic decision to refocus on the core strengths of the publication. Insider, initially founded in 2007 as Silicon Alley Insider, saw early success with stories about Apple, prompting a shift away from being solely focused on New York tech firms.
Business Insider was acquired by Axel Springer in 2015, and in 2021, it underwent a rebranding to become Insider. The recent shift back to Business Insider reflects the enduring strength of the brand, as research conducted earlier this year indicated that people still referred to the publication by its original name.
The publication, with approximately 800 employees, aims to return to its business-journalism roots under the leadership of Barbara Peng. The renewed focus aligns with Insider’s goal to attract readers directly to its platform, emphasizing the importance of building a dedicated audience in the evolving media landscape.