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March 26, 2014

Deal Alert: Ronnie Screwala, K Ganesh back media startup Oximity

Angel investors Ronnie Screwvala and K Ganesh have seed funded Oximity, a global online media startup for user-generated news. Co-founded by former Wall Street banker Sanjay Goel and German IT entrepreneur Christian Hapke, Oximity connects sources of news directly to readers in over 180 languages globally. The US-based start-up rides on technology to create a large network of self-empowered news writers and readers.

Started six months ago, Oximity has more than 2,500 writers generating 700 news stories daily. Its writers and readers are spread across 200 countries, while the company has existing offices or staff in Berlin (Germany), London (UK), San Francisco (USA), Ramallah (Palestine), Moscow (Russia) and Guangzhou (China). Users can write stories for themselves or on behalf of their organizations. Oximity helps in monetizing their content while charging users on a 'freemium' model — free basic services and top up charges for the rest. 

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