Omidyar Network invests in Philippines digital media firm Rappler

Visual from the company website

Impact investor Omidyar Network made an undisclosed amount of investments in Rappler Holdings Corporation, the parent firm of Philippine-based online media company Rappler.

Rappler reported Omidyar Network has considered the company with its different strategies in covering news and how it engages with netizens or its audience online.

“Rappler is breaking new ground in covering news and developing a reader engagement model that is pioneering and meaningful,” said CV Madhukar, Omidyar Network investment partner, as quoted by Rappler.

Formed by former eBay founder Pierre Omidyar, who is also the CEO and publisher of Honolulu Civil Beat news service in Hawaii, the Omidyar Network uses five criteria for its investments, namely: alignment, impact, potential for scale, leadership and innovation.

“We are thrilled to have Omidyar Network as an investor, given its commitment to advancing social good through the use of technology,” said Manny Ayala, the Chairman of Rappler’s board. “The Omidyar Network’s focus on governance and citizen engagement is a particularly strong fit with Rappler. We are confident that such experienced partners will help us in our quest to create an ‘inclusive media’ platform that blends professional journalism, technology and the wisdom of the crowd.”

Award-winning journalists and news managers Maria Ressa, Glenda Gloria, Chay Hofileña and Beth Frondoso, started Rappler in January 2012, the Philippines’ first all-digital news organization. It combines technology and crowdsourcing through the use of social media and mobile phones to merge traditional television broadcasting with the Internet, reinventing systems and distribution channels.

“Rappler is the first and only media startup in the Philippines to join broadcasting network giants ABS-CBN and GMA in offering Philippine Depository Receipts or PDRs to international investors. PDRs are financial instruments that foreign funds can buy into, allowing media and other Filipino firms that must keep foreign ownership at 40 per cent, to raise funds globally,” Rappler said in its report.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.