Ebay founder Pierre Omidyar's new company now has $50 million a name: First Look Media.
The company is split into two parts: an independent, non-profit media venture with Glenn Greenwald and a for-profit technology business. It was previously unclear as to whether the journalism side would attempt to turn a profit. However, it may still bring in revenue with ads.
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Just hours after leaving The Guardian in October, reports emerged that Omidyar had stepped up to fund a new media project with Greenwald, who worked with Edward Snowden to bring to light the National Security Agency's surveillance system.
While many expect that the new journalism venture will primarily center on investigative pieces, the release states that First Look Media will cover politics, government, sports, entertainment and lifestyle, arts and culture, business, technology and investigative news.
“I am deeply committed to the long–term effort to build a new and exciting platform for journalism — one that not only provides the innovation and infrastructure journalists need to do their best work, but that brings their reporting and storytelling to the widest possible audience," Omidyar said in the press release.
Other accomplished investigative journalists — Laura Poitras, Jeremy Scahill, Dan Froomkin and Liliana Segura — have already joined the outlet.
Image: Getty/Evaristo Sa
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