The founder of eBay founds a new venture, this one in media. Here’s hoping he’s doing something truly new and not a Current TV retread.
(From The Guardian)
In an interview with Jay Rosen, media critic and NYU professor of journalism, Omidyar said he was committing an initial $250m to the as-yet-unnamed venture. Omidyar told Rosen the decision was fuelled by his “rising concern about press freedoms in the United States and around the world”.
Omidyar said he hopes the project will promote “independent journalists with expertise, and a voice and a following” while using Silicon Valley knowhow to build an audience. “Companies in Silicon Valley invest a lot in understanding their users and what drives user engagement,” Omidyar said. The company will be online only and all proceeds will be reinvested in journalism.