Deals

Digital news startup Ongo raises $12M from major media publishers

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.

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