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

Ingram: Crowdfunding is about more than money   I never thought I would be defending AOL, but unlike some I think their crowdfunding project is not a bad idea: http://t.co/88923ypn2L — Math...
One of the most successful journalism projects in ... Following the successful funding of Tar Sands Reporting Project earlier this year, the Vancouver Observer will double its sights soon and ask its su...
Readers, not journalists, decide what’s news... A BART train parked in Daly City, CA. One of the first Bounties campaigns is looking for a reporter to explore the future of BART in East Bay. Credit...
Puerto Rican punk rock through Sophia’s eyes We're already on Medium Español but in the very near future, Through the Cracks will create a space devoted to sharing stories in Spanish. Soph...

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