Omidyar Plans to Fund Investigative Media Project

Pierre Omidyar, the founder of eBay, has joined up with journalist, Glenn Greenwald, to fund a new multi-million dollar ($250 million to be exact) journalism project.  Their focus seems to be on investigative journalism, according to a Daily Beast article.

Omidyar has a background in investigative journalism.  He was the editor of Honolulu Civil Beat, which focused on public policy and government actions.  His colleagues comment on his passion for journalism and the public good.

“Omidyar is . . . an Internet marketing mastermind poised to exert a massive impact on the future of the struggling news business.”

This could be a major lift to the journalism world – having wealthy, influential people that know the business donate their money and time to try to salvage it.  One of the biggest downfalls of the journalism world has been the lack of money, which leads to cuts, which leads to a shortage of staff and resources.  It’s nearly impossible to try to do the same amount and quality of work with much less.

In class, we looked at a particular investigative news site, investigativenewsnetwork.org.  This is a non-profit site and relies heavily on donations.  If all journalism needs is a hefty check to get it going again, I’d say that Omidyar’s $250 million is a good start.

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One comment

  1. Here’s why your post swerves off the rail: Omidyar is investing because he lost the bid for the Washington Post which Bezos purchased. The Verge: http://www.theverge.com/2013/10/16/4844446/nsa-reporter-glenn-greenwald-partners-with-billionaire-ebay-founder
    out lines reasons why there is a keen interest. What is the business of journalism in this deal? Is Omidyar a “marketing mastermind” as his colleagues indicate or is he a passionate journalist. All the evidence points to him making profits out of the industry. Digging deeper makes the writing journalism, you have the start… get your work to the finish line

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