Ohmynews to expand following investment
Posted by
Martin Stabe
on 22 February 2006 at 19:20
Tags: Citizen journalism, Online
The pioneering Korean citizen journalism site Ohmynews has secured investment worth several million dollars from venture capital firm Softbank and will expand its operations.
Ohmynews chief executive Oh Yeon Ho and Softbank chief executive Masayoshi Son agreed that the invested funds would be used to expand its internet television arm, OhmyTV, and expand the site’s English language edition. The two companies will launch a new company, Ohmynews International, next month, and plan to have a Japanese-language site in place by August.
Softbank will own 12.95 percent of OhmyNews’ outstanding shares as a result of its investment.
(Via Craig Newmark)
Tags: Citizen journalism, Online
