New Delhi: News media startup Semafor has raised $30 million in a new funding round as it looks to expand its journalism platform and events business in its core The funding is at a time when many media companies are struggling, so this is a very notable time to raise.
Semafor is known for its own style of news reporting. Instead of reporting only one side of a story, its stories often display many perspectives about a topic. This approach helps the readers to understand the global issues in a better way and it reduces the confusion that arises due to the biased reporting.
The new capital will be used to expand Semafor’s newsroom, employ more journalists, and increase their presence in new countries. The company also intends to expand the number of global events and conferences the company organizes, which have become an important revenue source.
Media industry experts say Semafor’s model is gaining attention due to a lack of trust in and clarity of news. In an era of social media misinformation, social networking sites which prioritize quality journalism are gradually regaining value.
The company’s founders believe that media businesses have to innovate if they are to survive. Instead of just being ad-based, Semafor is developing multiple sources of revenue like events, partnerships, and premium content.
