NowPublic Closes 1.4 Million Angel Financing

For Immediate Release

The News Really is NowPublic!
NowPublic Closes 1.4 Million Angel Financing

Leading participatory news network raises one of largest angel rounds in the country

Vancouver, May 31, 2006 --   

NowPublic is excited to announce that is has closed a 1.4 Million (USD) financing.  The deal was led by Brightspark Ventures of Toronto along side several veteran angel investors including members of the New York Angels and current and former executives from Nokia, Register.com, Infospace, Microsoft, Alliance Atlantis and Warner Bros. Television.

Co-Founders Leonard Brody, Michael Meyers and Michael Tippett state (in unison of course) that, “We believe that the success of a company is completely reliant on the people that surrounds it.  NowPublic has not only gained investors in this transaction, we have inherited a phenomenal talent pool that can accelerate our plans. The company is dis-intermediating news production by directly connecting the people that consume news to ordinary people that witness extraordinary things.  We are bringing the power of crowd-sourcing to reporting.”

The company will be using the financing to grow its reporter base and deliver the first On Demand ReportingTM system to content owners.    Rumor is, it will also be using the proceeds to pay all of the hard working developers who have slaved to make the site what it is today.   Thanks guys. 

Mark Skapinker, Partner at Brightspark noted, “We are delighted to be a part of NowPublic.  We are big believers in the growth of participatory news and are excited that this is our first foray into the Web 2.0 market.”  

Now, don’t just sit there….start sharing what you are reading and seeing….start spreading the news!  Go to www.nowpublic.com and get busy.

About NowPublic
NowPublic is a participatory news network which mobilizes an army of reporters to cover the events that define our world.    In twelve short months, the company has become one of the fastest growing news organizations with over 15,000 reporters in 130 countries and over 2 million unique visits a month.   During Hurricane Katrina, NowPublic had more reporters in the affected area than most news organizations have on their entire staff.

Contact:
Leonard Brody, Co-Founder
604 728 0282
lbrody@nowpublic.com