Cupertino-based Ongo Inc. has raised $12 million from The New York Times, The Washington Post and Gannett, publisher of USA Today and other newspapers. The startup plans to introduce a service for reading and sharing digital news before the end of the year.
The investors contributed $4 million each, according to The Associated Press, and all three publishers will have a seat on Ongo’s board.
The company was founded earlier this year by Alex Kazim, a former president of Skype. Prior to starting Ongo, Kazim founded Tokoni, a story-sharing site, with his wife Mary Lou Song.