When NewsCred relaunched in January, TechCrunch called it ”The Ning for Newspapers” as it allowed users to create a combination news aggregation and opinion site, like your very own The Huffington Post. NewsCred has had several pivots in its three years of existence, but now it’s solely focused on B2B licensing deals and tirelessly helping to connect the dots between brands and online publishers.
“We’ve completley pivoted the company around. Now, we’re launching our next generation newswire. We’re helping publishers and brands get access to amazing content. Right now, their only option is going to AP or Reuters. We want our service to disrupt the industry,” says NewsCred’s Founder and CEO Shafqat Islam.
Let’s say Coca-Cola wants to run a series about music. Through NewsCred, Coca-Cola would have access to sources like Billboard.com, MTV News, The L.A. Times and Chicago Tribune as well as smaller music blogs. Revenue from the Coca-Cola deal is then split amongst the news sources in that package. Content producers don’t have to pay for anything; they simply receive a check at the end of the month. Islam says providers are making 6 figures a year off of NewsCred’s service and the company is on track to pay a few million dollars in syndication fees in 2012. “Content creators produce amazing journalism and they’re looking for non-display revenue. It’s a nice source of additional, incremental revenue,” he says.
Through NewsCred, the publisher or the blog also gains exposure, distribution and the company gets paid. Another New York City based startup named Contently is solving similar problems by helping brands outsource high-quality content from individual writers. Contently wants to put an end to content farms like Demand Media. Check out our launch story on the company here.
For brands and publishers, NewsCred charges a monthly API licensing fee for access to its content. The fee is based on the volume of news stories as well as the sources licensed. Content is customized, tailored and monetized through new advertising opportunities making it sound like a win-win. For larger publishers with a high volume of pageviews, NewsCred guarantees revenues. It’s an opportunity for big brand companies to save money on hiring a full-blown marketing staff or in-house editorial team while still positioning themselves as thought leaders in an industry.
“We’ve created a single platform for the world’s best journalism. And in doing so, we’re delivering millions of dollars of revenue back into the news ecosystem, and helping an important industry find new models to not just survive, but thrive.”
-NewsCred’s Founder and CEO Shafqat Islam (pictured below)
NewsCred raised a $750K seed round in September 2010 from Floodgate, IA Ventures and Naval Ravikant followed by a $4M Series A round in October 2011, led by FirstMark, with participation from Lerer Ventures, AOL Ventures and Advancit Capital (Shari Redstone) and participation from existing investors.
It's time to free American democracy from the devastating social and economic consequences of the systemic and wholesale bribery of politicians and elected officials. Thanks to the growing Occupy Wall Street (OWS) movement, the consciousness of millions of people across the United States has been irreversible raised about this counterproductive predicament.
Public politicians ought to be "free" from the monetary bribes of the avarice and psychotic greed of the 1% who, many of whom, do not give a damn about the masses of poor and working class people.
There are some who have shown an arrogant disdain for the democratic principles of fairness, equal justice and opportunity, inclusiveness, and diversity. They openly buy politicians and pimp them to do whatever they want to obtain their insatiable desires for monopoly control.
As a means of stopping the bribery, there needs to be a Constitutional Amendment to make it illegal to buy, financially contribute to or to use money to influence federal elected officials. That would mean that the future election campaigns for all members of Congress as well as for the office of the President and the Vice President will be totally publicly financed. This will stop the partisan gridlock that has plagued Washington for too long, because the politicians will be working for the people again, not for the corporations who line up outside their office to lobby.
This would definitely not limit or deter freedom of speech, but would rather significantly enhance public political accountability, transparency and the "freedom" of political discourse from the often hidden reactionary hands of a few who would only manipulate the political system for their own narrow exclusive gains.
We welcome the sight of increasing numbers of people in protest actions that have been re-awakened on this issue. In order to effectively challenge income inequality, there needs to be a focus on establishing greater accountability between elected officials and the people who vote for them.
As the nation is about to go into full gear once again with the fast approaching 2012 national elections, there is a sense of urgency about making sure that the elections will be not be brought and controlled by the 1%. "Power to the people" ultimately means the empowerment of the masses through full participatory democracy and sustainable development. This idea benefits every American, whether you belong to the Tea Party, Democratic Party, Republican Party or no party.
There is a good regulatory resolution pending before the Los Angeles City Council that also calls for a Constitutional Amendment that would ban corporations from using money under the disguise of free speech and to further prohibit money from corporations to use to influence elections and political campaigns. The resolution was brought before the LA City Council by a national grass-roots group know as Move to Amend. Other anti-bribery coalitions are springing up across the nation. Much respect goes out to the Occupy Wall Street movement as the most visible and diverse movement for economic justice and equality.
We cannot afford to let the current status quo inequities continue without a nationwide show of solidarity and demand for change. It's time for the 100% to demand a stop to the political bribery system.
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