Online magazine Republic can continue
The online magazine Republik will be able to continue operations, thanks to three female investors who have contributed a total of 300,000 francs over the past few days.
"We definitely met our goals for March. The Republic can continue," the company announced in its latest newsletter on Tuesday. Persoenlich.com had first reported on this.
The investors who have helped the online newspaper to exceed its funding target of 2.2 million francs will be listed on the shareholders' page shortly, the statement added. 2.46 million francs was the exact figure on Tuesday. The Republic is sticking to its ambition of finding 3,000 new publishers, as it likes to call its subscribers, in March.
In December 2019, the online magazine had reported that 2.2 million Swiss francs and 19,000 subscribers would have to be raised by the end of March 2020 for it to continue to exist. If the target had not been met, all employees would have received notice of termination as of March 31.
The Republic-founders had raised around 3.4 million francs in the 2017 crowdfunding campaign, four times as much as hoped for. In total, the project had 7.7 million francs at the start, thanks to contributions from investors. This would secure operations for at least two years, it said at the time. On January 14, 2018, it had launched as an advertising-free magazine with about three articles per day. (SDA)
