OhMyNews gets a financial boost

By Bob Toovey - 23 February 2006

Posted on Red Herring is news that OhMyNews has recieved an investment of $11 Million! The Korean website plans to launch a Japanese news site and develop video journalism.

Here is a snip...

"One of the most successful citizen journalism ventures, Korea OhmyNews, said Wednesday it had received an $11-million investment from Softbank.Softbank’s cash infusion gives the Tokyo-based firm 12.95 percent of OhmyNews’ outstanding shares. Six-year-old OhmyNews, which has previously said it is profitable, will use the investment to launch a Japanese news site, the first “stepping stone” of the soon-to-be-formed OhmyNews International. It also plans to develop its video journalism arm and improve its English-language edition."

Take a look at the full article for more

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