Technology executives invest in digital news startups founded by veteran journalists

A digital news startup founded by a senior journalist has received investment from a top technology executive.

The startup is expected to launch in the fall and is partly led by Mark Ba​​uman, a senior National Geographic executive. This effort was funded by technology entrepreneur Brian Edelman, who runs RAIN, a company that specializes in helping companies develop software for voice technology.

RAIN lists technology companies that have worked with in the past on its website, such as Amazon, Google, and Microsoft.

In an interview with CNBC on Friday, Bowman said that Edelman participated in a Series A financing worth more than US$10 million. Another investor in the company is International Media Investments, a fund headquartered in the United Arab Emirates whose portfolio includes other media companies such as The National, Euronews and Sky News Arabia.

Edelman’s LinkedIn page states that he is the CEO and founding partner of RAIN. His company’s website states that it has offices in New York, Utah, and Washington. Bowman told CNBC that Edelman himself has investments globally, with a focus on technology and new media. Bowman also pointed out that Edelman has done some work in the Middle East.

Edelman’s investment in the company gives us a glimpse of how some executives view the value of the digital news business that has grown over the past year.

At the beginning of the new coronavirus pandemic, CNBC Digital released a record 115 million unique visitors in March 2020 Alone.New York Times Report Last April, visits to its news site increased by more than 50%, as did the Washington Post. Saudi Arabia is funding An unannounced digital news website.

Bowman forwarded all other questions about Edelman’s investment to the tech entrepreneur. There are no emails returned to RAIN.

Aksios First It reported that new ventures and international media investment were part of the latest round of financing, but did not provide detailed information on Edelman’s investment.

Bowman confirmed to CNBC that he will serve as the president and chief executive officer of the news media that has not yet been officially appointed. Laura McGann, who has worked at Politico and Vox.com, will be in charge of editing. They will report to board members Madhulika Sikka, David Ensor, Chris Isham, John Defterios and Alberto Fernandez. All board members have extensive experience in journalism and politics.

The job postings for the upcoming digital news service will give readers a glimpse of the topics that readers will see on the site.

For example, the company is hiring a reporter to cover China, with the goal of “identifying the most important and interesting perspectives and issues, from trade to territorial ambitions; from climate change to the Belt and Road Initiative; and many aspects of China. U.S.-China relations, “According to recruitment information.

A journalist covering politics and government “will be responsible for reporting on existing flaws in the U.S. political system and how new attacks on them pose a profound threat to the future of a representative and responsive U.S. government.”

They also have a job as a misinformation reporter, responsible for “reporting the rise of misinformation, which is one of the most influential phenomena that drive our public discourse and shape our lives.”