Washington Post, NY Times, Gannett invest in news aggregator

Sep 29, 2010
Freshly printed newspapers in 2009 in California. A news aggregator startup announced on Wednesday it has received 12 million dollars in funding from The Washington Post, The New York Times and USA Today publisher Gannett Co.

A news aggregator startup announced on Wednesday it has received 12 million dollars in funding from The Washington Post, The New York Times and USA Today publisher Gannett Co.

The startup, Cupertino, California-based Ongo, said it plans to launch a "consumer service for reading and sharing digital news and information from multiple publishers" before the end of the year.

"We are building Ongo to reflect the many ways consumers prefer to read, organize and share digital news," Ongo founder and chief executive Alex Kazim said in a statement.

"We're gratified three such influential media companies recognize the value of what Ongo is creating, and we look forward to opening our doors soon," Kazim said.

A former president of eBay's subsidiary, Kazim has also served as head of marketing and business operations for PayPal and held senior engineering and management positions at Apple and other technology firms.

The Washington Post said the three companies had invested four million dollars each in the venture.

US newspapers have been seeking new revenue streams and Web products amid a steady decline in print and circulation.

The plans to begin charging readers for full access to its website, NYTimes.com, early next year and the Times Co., like other newspaper companies, is developing news applications for devices such as the .

Explore further: Showing 'The Interview' is part of Google's long-term YouTube plan

add to favorites email to friend print save as pdf

Related Stories

TV, digital operations give Gannett a boost

Jul 16, 2010

USA Today owner Gannett said Friday that net profit surged in the second quarter on a strong performance from its television and digital properties and an improved print advertising climate.

Recommended for you

N. Korea suffers another Internet shutdown

Dec 27, 2014

North Korea suffered an Internet shutdown for at least two hours on Saturday, Chinese state-media and cyber experts said, after Pyongyang blamed Washington for an online blackout earlier this week.

Streaming release of 'Interview' test for industry

Dec 25, 2014

Sony's "The Interview" has been a hacking target, a punchline and a political lightning rod. Now, with its release online at the same time it debuts in theaters, it has a new role: a test for a new kind of ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.