Printline Media Pvt Ltd, a venture founded by Shekhar Gupta, is pleased to announce the conclusion of its first round of funding with a stellar list of investors.
N.R. Narayana Murthy, Ratan Tata, Nandan Nilekani, Uday Kotak Family, Kiran Mazumdar Shaw, Bangalore-based tech entrepreneur Rajiv C. Mody, Paytm founder Vijay Shekhar Sharma, Chairman, LVMH Asia Ravi Thakran, IIFL founders Nirmal Jain, R. Venkataraman, Karan Bhagat and Yatin Shah are eminent investors in the venture.
Printline Media will publish ThePrint, a multi-media, mostly digital news platform.
ThePrint is built on three central beliefs.
First, that there is a large and growing audience of curious, critical, aware and questioning Indians who value the news they need, from the names they trust.
Second, there exists a wide philosophical and intellectual space that is socially and economically liberal and not doctrinaire Left or Right. A space for non-hyphenated liberalism.
And third, there is no contradiction between good journalism and the market-place.
We are deeply grateful to our readers & viewers for their time, trust and subscriptions.
Quality journalism is expensive and needs readers to pay for it. Your support will define our work and ThePrint’s future.
This opens possibilities across platforms for serious, substantive and probing journalism, with a formidable opinion punch.
“We at ThePrint are gratified that people of such eminence have backed this idea,” said Shekhar Gupta. “All of them have brilliant track records as entrepreneurs and take their money seriously. This gives a special edge to their endorsement at this early stage.”
BMR Advisors and KLaw acted as transaction and legal advisors, respectively, for the raise.
ThePrint team is growing at its new editorial and corporate office on New Delhi’s so-called ‘Fleet Street’ – Third floor, 9 & 10 Bahadur Shah Zafar Marg.
News media is in a crisis & only you can fix it
You are reading this because you value good, intelligent and objective journalism. We thank you for your time and your trust.
You also know that the news media is facing an unprecedented crisis. It is likely that you are also hearing of the brutal layoffs and pay-cuts hitting the industry. There are many reasons why the media’s economics is broken. But a big one is that good people are not yet paying enough for good journalism.
We have a newsroom filled with talented young reporters. We also have the country’s most robust editing and fact-checking team, finest news photographers and video professionals. We are building India’s most ambitious and energetic news platform. And we aren’t even three yet.
At ThePrint, we invest in quality journalists. We pay them fairly and on time even in this difficult period. As you may have noticed, we do not flinch from spending whatever it takes to make sure our reporters reach where the story is. Our stellar coronavirus coverage is a good example. You can check some of it here.
This comes with a sizable cost. For us to continue bringing quality journalism, we need readers like you to pay for it. Because the advertising market is broken too.
If you think we deserve your support, do join us in this endeavour to strengthen fair, free, courageous, and questioning journalism, please click on the link below. Your support will define our journalism, and ThePrint’s future. It will take just a few seconds of your time.