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American online news startup Ongo Inc is to receive multi-million dollar funding from national news organisations before it has even been launched. Ongo, which is understood to be due to go live by the end of the year , will be given $12 million as part of an "initial round of financing" collectively from Gannett Company, the New York Times Company and The Washington Post Company,

it announced this week via PRNewsWire

.

The startup claims it will offer a service which will enable the "reading and sharing of digital news and information from multiple publishers".

"We are building Ongo to reflect the many ways consumers prefer to read, organize and share digital news," Alex Kazim, Ongo's founder and chief executive officer said in a release.

"We're gratified three such influential media companies recognize the value of what Ongo is creating, and we look forward to opening our doors soon."

The release adds that the terms of the initial round of financing are confidential. In a statement in its own report on the news , the Washington Post said it is "interested in experimenting with different ways to experience digital news and information." According to a report by the Associated Press , Robin Pence, a spokesperson for Gannett Company, the parent company of USA Today, said the deal was an "opportunity to work with two very high-quality media partners and an excellent and experienced technology group."

Associated Press adds that a New York Times Company spokeswoman said the publishers have been in talks with Ongo for more than a year.

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Written by
Rachel Bartlett

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