Markets

New York Times invests in European news startup

/ AP

AMSTERDAM - A Dutch startup that sells news on a per-article basis has landed a 3 million euro ($3.8 million) investment from The New York Times (NYT) and the German publishing house Axel Springer SE.

Blender founder Alexander Klopping says his company will use the money to fund an international rollout.

Blendle's strategy is to make it easy for users to pay small amounts -- as little as a dime per story. It then adds a social networking element, as users can follow each other and recommend stories.

The service enjoyed early success in the Netherlands as almost all major newspapers and magazines offer content through the site.

The Economist had been the most prominent international news organization to use Blendle, but Klopping said Monday the NYT and Axel Springer's properties will now follow suit.

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