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February 22, 2006
Citizen Media's OhmyNews Grabs Funding
Dan Gillmor's Bayosphere citizen media startup didn't pan out, but OhmyNews, the Korean company that inspired him, just announced $11 million in venture funding. OhmyNews definitely has traction. Six years old, the site has become a prominent news outlet, with 80 staffers and revenues of $5 million.
OhmyNews plans to use the investment from Softbank to expand internationally and develop its English language and OhmyTV editions. Softbank gets 12.9% of the company's outstanding shares.
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Wow! No comments! Me thinks they protest too much.
Posted by: Slav at March 1, 2006 04:27 AM