Publish2 Inc., a
Publish2, Inc. today announced it has raised $2.75 million in their Series A financing from Velocity Interactive Group, a leading global digital media and communications investment firm. Co-founded by Scott Karp and Robert Young, Publish2 is an online news aggregation platform, designed to empower the world's journalists to discover, organize, and rank the most important news — to benefit their own reporting, their newsrooms, and all news consumers on the web. The site has been in stealth mode and is now in private Beta.
Scott Karp, President and CEO of Publish2 is also currently the editor and publisher of Publishing 2.0, a widely-read and respected blog that takes an incisive look at how technology is transforming media. Karp has worked within several publishing organizations, most recently as Director of Digital Strategy at Atlantic Media, which gave him insight into how journalists need to be empowered on the web. Co-founder and Executive Chairman, Robert Young is also a widely-read blogger previously published on GigaOm and ZDNet, who can now be found on Publishing 2.0. Young is also credited with playing a key role in the launch of the nation's first consumer ISP, inventing “Pay-Per-Click” advertising, organizing the industry's first Internet ad sales force, and inventing “free email.”
“This financing allows us to continue building a strong team aimed at developing a Web platform for journalists that helps them bookmark and organize news articles as part of their story research and staying on top of their beats, connect with other journalists with similar interests, and contribute to their newsrooms' editorial efforts in linking to interesting news around the Web,” said Scott Karp, President and CEO, Publish2, Inc. “By working closely with Velocity Interactive Group and having the guidance of both Ross and Jon on our board will help us continue making the best strategic moves as we move to publicly launch the site.”
With Velocity Interactive Group's investment, Jon Miller and Ross Levinsohn will join the board of directors and advise the company on strategic matters. They bring with them deep experience from both AOL and Fox Interactive Media, offering unique perspectives on the future of news aggregation.
“We're excited to get involved with Publish2 and can't wait to show the service to the rest of the world,” said Jon Miller, Partner, Velocity Interactive Group. “The company is in line with our other recent investments in new media companies, and as a first move for Velocity, both Ross and I will be joining their Board to provide our own unique perspectives.”
The money raised will be used to accelerate Publish2's strategic growth initiatives, including hiring key team members, completing development of the technology platform, and making Publish2 an indispensable tool for a critical mass of journalists, editors, and newsrooms.
About Publish2, Inc.
Publish2 is an online news aggregation platform, designed to empower the world's journalists to discover, organize, and rank the most important news — to benefit their own reporting, their newsrooms, and all news consumers on the web. Co-founded in 2007 by Scott Karp and Robert Young, Publish2 is backed by Velocity Interactive Group and is based in
About Velocity Interactive Group
Velocity Interactive Group (www.velocityig.com) is a leading investment firm that focuses on digital media and communications. The firm brings a unique approach to investing by bringing not just financial capital, but also human capital to its investment companies. Velocity Interactive Group has a global presence in