Waywire is a startup currently in private beta that has shifted from producing original video content to becoming a platform for collecting and curating videos from multiple sources. The company was founded by Cory Booker, Nathan Richardson, and Sarah Ross about 18 months ago; Richardson has since left and co-founder Sarah Ross is running day-to-day operations. Cory Booker is stepping down from Waywire’s board and will donate his shares to charity as he advances his political campaign. Waywire is searching for a new CEO and, according to a spokesperson, is very close to naming one who will likely be announced in the coming weeks. Financially, Waywire secured an extension of its seed round from four new investors, though the company has not disclosed the amount or participant identities. The company originally raised $1.75 million from First Round Capital, Eric Schmidt’s Innovation Endeavors, Troy Carter, and other angel investors. Waywire is a video-first news site that combines original and syndicated video clips with user-recorded responses to create a personalized newswire. The product pulls data from users' Facebook and Twitter to tailor a feed of topics a user cares about. The company plans to produce 10,000 minutes of original video hosted by millennial newscasters alongside clips syndicated from established outlets. Community features include video responses that appear alongside professional clips, a badge and reward system to surface trusted curators, and tools for sharing content to social networks. Waywire is taking registrations for a private beta and aims to lower barriers for millennial participation in the national dialogue. Cory Booker is building the project and has recruited co-founders including former TechCrunch CMO Sarah Ross; Nathan Richardson is slated to be CEO.

Total raised

$2M

Funding rounds

2

Latest round

Seed

Latest activity

Jun 2012