The Intercept is the first in a "family" of digital magazines, Omidyar said in a video (below) explaining how First Look will unfold over 2014, each one to be focussed on a specific topic and led by "a visionary journalist" with their own editorial voice.
Glenn Greenwald, the first journalist to join the venture, will lead The Intercept alongside Jeremy Scahill and Laura Poitras, initially in exploring the stories behind NSA surveillance and later expanding into further stories on civil liberties and justice.
But who else is involved in helping First Look to, in Omidyar's words, "experiment, innovate and overcome existing obstacles to make it easier for journalists to deliver the transformative stories we all need"?
Below is the journalist line-up so far, hover over the photos for more information:
The full, flagship website for First Look Media is due to launch later in the year, covering politics, news, sport, entertainment and a range of other topics. Until then, the video below serves as an explainer for what First Look will hope to accomplish.
Pierre Omidyar: By Joi on Flickr. Some rights reserved.
Glenn Greenwald: By Gage Skidmore on Flickr. Some rights reserved.
Jeremy Scahill: By Chatham House, London on Flickr. Some rights reserved.
Jay Rosen: By Joi on Flickr. Some rights reserved.
Laura Poitras: By Kris Krug on Flickr. Some rights reserved.
Eric Bates: Screenshot from video.
Liliana Segura: Image courtesy of First Look Media
Dan Froomkin: By yksin on Flickr. Some rights reserved.
Marcy Wheeler: By ragesoss on Flickr. Some rights reserved.
Peter Maass: By Larry D. Moore on Wikimedia Commons. Some rights reserved.
Andy Carvin: By personaldemocracy on Flickr. Some rights reserved.
Bill Gannon: Image courtesy of Bill Gannon
Ryan Devereaux: Image courtesy of Ryan Devereaux
Murtaza Hussain: Image courtesy of Martaza Hussain
Andrew Jones: Screenshot from video
Ryan Gallagher: Image courtesy of Ryan Gallagher
Update: This article has been updated with an interactive image of Bill Gannon included in the montage