NEWS

Positive News Becomes World's First Crowdfunded Global Media Cooperative

13/07/2015 14:03 | Updated 13 July 2015

Positive News has become the world's first crowdfunded global media cooperative, after raising £263,422 in just 30 days with their #OwnTheMedia campaign.

The news organisation is committed to reporting positive developments, and aims to take a solution-focussed approach to the issues facing society.

Positive News now has 1525 shareholders from over 33 countries, consisting of readers, journalists and supporters.

Editor-in-chief Seán Dagan Wood said: "This is a massive vote of confidence in Positive News and an opportunity to showcase a whole new approach to journalism.

"The level of investment we have raised, the number of co-owners we now have, and the touching messages of support they have sent us, show a deep and widespread desire for a more inspiring news media.”

The success story comes after Crowdfunder teamed up with the Community Shares Company to offer share-based crowdfunding, as apposed to the traditional reward-based system.

Dave Boyle, director of the Community Shares Company said: "Positive News have shown community shares aren’t just about local assets like pubs and clubs or windfarms, but also work for communities united not by geography but values. Anyone with a cause and a crowd can raise serious large amounts of money if they get the offer right”

Crowdfunder attributes the vast public support for the project to the growing trend for social investment.

Managing director, Phil Geraghty said: "The team at Positive News have truly shown the world how to run a hugely successful share issue from start to rather spectacular finish.

"Not only this this important for us at Crowdfunder, marking the start of our community share offers - it's a momentous achievement in the media sector - creating a truly crowd-owned global platform.

“Our first community shares issue has raised the bar for community share offers here in the UK - with over 1500 people supporting the project, we have set the scene for communities to 'own' what’s most important to them creating a more secure, sustainable and economically protected society, together, as a crowd.”

Craziest Crowdfunding Projects That Actually Worked: CNBC

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