We are confident that such experienced partners will help us in our quest to create an ‘inclusive media’ platform that blends professional journalism, technology and the wisdom of the crowd.” “The Omidyar Network’s focus on governance and citizen engagement is a particularly strong fit with Rappler. “We are thrilled to have Omidyar Network as an investor, given its commitment to advancing social good through the use of technology,” said Manny Ayala, the Chairman of Rappler’s board. PDRs are financial instruments that foreign funds can buy into, allowing media and other Filipino firms that must keep foreign ownership at 40%, to raise funds globally. Rappler is the first and only media startup in the Philippines to join broadcasting network giants ABS-CBN and GMA in offering Philippine Depositary Receipts or PDRs to international investors.
It’s the simplest of Rappler’s crowdsourcing initiatives which include a collaborative platform for disaster risk reduction and management, Agos, crucial in a country that sees an average of 20 typhoons a year. Developed with psychologists and sociologists, the mood meter is based on research that shows up to 80% of how people make decisions in their lives is not about what they think but how they feel.Įvery vote on the mood meter is aggregated by the mood navigator in the middle of the home page, a novel way of navigating a news site. It starts with a mood meter on every story, an effort to capture non-rational reactions. Using a patented user engagement model and a community mapping data analytics tool, Rappler tracks how stories and emotions move through its community. “We are excited to be investing in Rappler.”Ĭreated by award-winning journalists and news managers Maria Ressa, Glenda Gloria, Chay Hofileña and Beth Frondoso, Rappler became the Philippines’ first all-digital news organization in January 2012, combining technology and crowdsourcing through the use of social media and mobile phones to merge traditional television broadcasting with the Internet, reinventing systems and distribution channels. “Rappler is breaking new ground in covering news and developing a reader engagement model that is pioneering and meaningful,” said CV Madhukar, Omidyar Network investment partner. Omidyar Network said it invests “in entrepreneurs who share our commitment to advancing social good at the pace and scale the world needs today.” It uses 5 criteria for its investments: alignment, impact, potential for scale, leadership and innovation. MANILA, Philippines – Rappler Holdings Corporation, the parent company of Rappler, Inc., welcomes Omidyar Network, the fund created by eBay founder and entrepreneur Pierre Omidyar and his wife Pam to help businesses use markets and technology for social impact. Pierre is also CEO and publisher of Honolulu Civil Beat, a local news service in Hawaii that encourages civic participation through media.
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