Ongo Inc. Receives $12M Initial Financing

Ongo Inc., a Cupertino, CA-based start-up that is developing a consumer service for reading and sharing digital news and information from multiple publishers, has received a $12m initial round of financing.
Investors include Gannett Company, Inc. (NYSE: GCI), The New York Times Company (NYSE: NYT) and The Washington Post (NYSE: WPO).

The company will introduce its service before the end of the year.

Ongo’s founder and CEO is Alex Kazim, an accomplished Silicon Valley leader and technologist.
During nine years at eBay, he served as:
– president of the company’s Skype subsidiary;
– senior vice president of new ventures;
– head of marketing and business operations for the company’s PayPal subsidiary.



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