Omidyar Drops Millions on Greenwald Venture

Ebay founder Pierre Omidyar's new company now has $50 million a name: First Look Media.

The company is split into two parts: an independent, non-profit media venture with Glenn Greenwald and a for-profit technology business. It was previously unclear as to whether the journalism side would attempt to turn a profit. However, it may still bring in revenue with ads.

Just hours after leaving The Guardian in October, reports emerged that Omidyar had stepped up to fund a new media project with Greenwald, who worked with Edward Snowden to bring to light the National Security Agency's surveillance system. Read more...