By: E&P Staff
Ongo Inc., the news sharing service being launched by an eBay veteran, said Wednesday it has received a $12 million initial round of financing from Gannett Co., The New York Times Co. and The Washington Post Co.
Cupertino, Calif.-based Ongo is launching a service for reading and sharing digital news and information from multiple publishers.
Ongo said it will introduce the Ongo service before the end of the year at www.ongo.com
“We are building Ongo to reflect the many ways consumers prefer to read, organize and share digital news,” Alex Kazim, Ongo Inc.’s founder and chief executive officer, said in a statement. “We’re gratified three such influential media companies recognize the value of what Ongo is creating, and we look forward to opening our doors soon.”
Kazim was at eBay for nine years, during which he president of the company’s Skype subsidiary, senior vice president of new ventures, and head of marketing and business operations for the company’s PayPal subsidiary. Prior to joining eBay, Kazim held engineering and management positions at Apple and other technology companies.