Pierre Omidyar (pictured above), the founder of eBay, is worth around $8.7 billion according to Forbes. Omidyar was interested in buying The Washington Post, but Amazon.com founder Jeff Bezos outbid Omidyar with a final price of $250 million. Omidyar has decided to start a media startup from the ground up as a result. He has also partnered with Glenn Greenwald, a former reporter at The Guardian that first wrote about Edward Snowden’s NSA leaks.
“I explored purchasing The Washington Post over the summer,” stated Omidyar. “That process got me thinking about what kind of social impact could be created if a similar investment was made in something entirely new, built from the ground up.”
Omidyar was impress with Greenwald’s reporting so he reached out to him. Greenwald was already working with his colleagues Laura Poitras and Jeremy Scahill to create an online space to support independent journalists.
[Source: Omidyar Group/BusinessInsider]