The business news publisher Semafor launched Tuesday morning after months of anticipation, debuting in the process a number of original editorial and commercial elements that the startup hopes will help differentiate it in the eyes of both readers and ad buyers. (Adweek)
Semafor is the brainchild of Ben Smith—former media reporter for The New York Times and, before that, former editor-in-chief of BuzzFeed—and Justin Smith, ex-CEO of Bloomberg Media. Since both men—who are not related—quit their previous jobs in January, Semafor has raised $25 million and hired more than 50 staff members. (AP)
Two of the news startup’s biggest bets are that a new article format can improve trust in media and that it can be “a global news company at birth.” (Nieman Lab)
At launch, Semafor said that 75% of its revenue will come from advertising and 25% from event sponsorships. The company eventually plans to charge for subscriptions. (Reuters)