Business, Investments, Startups

Omidyar Network Invests in Media Start up Scroll

Media start-up news and commentary website has secured an undisclosed amount led by Omidyar Network, promoted by eBay founder Pierre Omidyar. Khaitan & Co. advised Omidyar Network to make investment in the company. Recently Scroll had partnered with US business blog Quartz (QZ) to launch an India edition as well as with Atlantic Media Company to launch Quartz India.

The investment was made into Scroll India’s US-based parent, Scroll Media Inc. Scroll was launched less than an year ago and is powered by a growing team of enthusiastic newshounds, culturists, and tech aficionados from MIT, Harvard, Columbia, Dartmouth, McKinsey, The Wall Street Journal, The Sunday Guardian, Yahoo, and more.

See Also: Flipkart secures USD 1 billion in a Fresh Round

Till date, Omidyar Network has made investment in 63 companies such as MicroEnsure, Vistaar, OffGridElectric, AltSchool, Quickr India and much more. It having 65 members in its current team.

Since 2004, they have worked with their partners to create opportunities for people to tap that potential, enabling them to improve their lives and make powerful contributions to their communities. (As mentioned in Crunch base)

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