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Catalyzing worker co-ops & the solidarity economy

From Co-ops to Direct Public Offerings, Local News Outlets Get Creative To Stay Afloat

People across the country are scrambling to develop sustainable models to fund local journalism.

In the Bay Area, Berkleyside has taken a capitalistic approach to its fundraising through a Direct Public Offering. Businesses can use a Direct Public Offering, or DPO, to raise capital by offering the public a chance to buy a share of the company. The DPO allowed California residents to purchase preferred stock with a minimum investment of $1,000. This was the first time a local news organization had used this financing strategy, following the path of companies like Ben & Jerry’s. Berkeleyside launched the DPO in 2016 and spent two years raising capital. Over those two years, the outlet reached out to potential investors by creating a website dedicated to explaining the DPO process, running marketing campaigns, holding house parties, and mentioning the DPO in the stories it published.

Read the rest at Next City

 

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