Pierre Omidyar, eBay’s founder, has launched a new online news venture, aiming to fill the gap left by shrinking newspaper budgets and staff cuts. The project, named Honolulu Civil Beat, is initially focusing on local news in Hawaii, where Omidyar lives. It offers an innovative approach to news, providing in-depth coverage of local issues and encouraging reader participation.

Civil Beat is not free, with subscriptions costing $19.99 per month. This model is a departure from the majority of online news sites, which typically offer content for free and rely on advertising revenue. Omidyar believes this model will ensure the site’s independence and allow it to produce quality journalism.

Omidyar’s venture comes at a time when many traditional newspapers are struggling financially, with some even closing down. The move is seen as a vote of confidence in the future of journalism and a potential new model for the industry. Omidyar is not the first internet entrepreneur to invest in news; Amazon’s Jeff Bezos purchased The Washington Post in 2013.

Go to source article: http://www.guardian.co.uk/technology/2010/apr/21/ebay-founder-launches-online-news