Crowd gives €375,000 to buy French newspaper Nice-Matin

image

Employees of the French company Nice-Matin have succeeded in buying their own newspaper following a historic crowdfunding campaign that came to an end Saturday.

Bringing in a total €376,275 from 2,700 backers on the site Ulele, this may the largest effort to crowd fund the purchase of a newspaper ever.

The campaign started Aug. 4 and reached a €300,000 goal before the end of the month. In the end the campaign reached 125 percent to goal.

Although the campaign was incredibly successful, one of the first orders of business of the workers cooperative will be to cut costs and jobs at the paper near bankruptcy.

Along with the crowd, the employees and business partners are also investors, according to the campaign’s website.

Read more about the new company on CrowdfundingInsider.com.

Related Posts

Doc about tech giant called a ‘digital age C... In case you haven’t seen it yet, “The Internet’s Own Boy” came out this summer and documents the life of Aaron Swartz, a man who helped create RSS...
The Ferret uses crowdfunding for investigative jou... Credit: USFWS Mountain-Prairie via Creative Commons. A new crowdfunded, crowdsourced investigative journalism website fueled by freelance writers ...
Crowdfunding probably won’t replace traditio... NYMag.com’s Daily Intelligencer decided to draw a conclusion on the future of crowdfunding journalism. Will it save us? Look no further than the he...
Podcast: Would you take a loan from your readers? Kiva was created to offer offer zero interest loans to entrepreneurs in developing nations instead of charity. On Thursday MediaShift's podcast and ho...

Comments

comments

Khari Johnson
Khari is founder and editor of Through the Cracks: Crowdfunding in Journalism. He also writes about bots and artificial intelligence for VentureBeat. He has built news startups in the U.S. and Europe for the last decade.

NO COMMENTS

Leave a Reply