Media Platform Newslaundry Gets Backed by Omidyar Network

Political news and analysis website Newslaundry has secured a round of funding from Omidyar Network, Mahesh Murthy, Vikram Lal, Abhijit Bhandari and Shashank Bhagat (through United India Periodical Pvt Ltd) in exchange for equity. As per the official announcement, Omidyar Network is the majority shareholder in the company with 18.40% equity share in the company.

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Newslaundry founders Madhu Trehan, Prashant Sareen, Abhinandan Sekhri and Roopak Kapoor have reduced their stake in the website to 17.25% each from the earlier 25%. Mahesh Murthy, Abhijit Bhandari, and Shashank Bhagat have 1% in the company.

Vikram Lal owns 2.5% of the website while the ESOP pool was set aside at 2.5%.

Founded in 2013, Newslaundry focuses on news critique, news reporting and current affairs. The website also has a podcast called Hafta which focuses on current affairs in India.

Before Newslaundry, Omidyar Network had invested in Scroll.in, a couple of years back.

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