If it looks as if Post News launched in a single day, that’s as a result of it type of did. Not like Mastodon, Hive Social, or different present social networks being flooded with dissatisfied Twitter customers, Submit Information emerged two weeks ago. The platform was rushed into a reside beta, since its workforce wished to go public in a time when the chaos of Elon Musk’s Twitter leadership was front and center in our collective headspace.
Submit Information has some comparable fundamental features to Twitter: you make posts, you want and repost different individuals’s posts, you observe fascinating accounts. But in its beta stage, it nonetheless lacks fundamental features like DMs, a local app and accessibility options like including alt text to pictures (and, sparking concern for some customers, the corporate mentioned it was not prioritizing accessibility at the moment).
Submit Information is making an attempt to capitalize on the “digital watercooler for journalists” facet of Twitter. The platform describes itself as a spot to entry “premium information content material with out subscriptions or adverts.” Information publishers and unbiased writers are inspired to share their articles on Submit Information underneath a paywall. The concept is that this could permit customers to pay for particular person articles from a wide range of information sources. It’s another, or a complement, to paying for particular person subscriptions to particular information sources.
“I consider the longer term newspaper is the feed and need to make it extra civil for customers, worthwhile for publishers and higher for society,” wrote Submit Information founder Noam Bardin in a tweet saying the endeavor. Bardin beforehand served because the CEO of Waze between 2009 and 2021.
As of Monday, Submit Information has about 335,000 users on its waitlist, in response to Bardin, whereas about 65,000 accounts have been activated. (Customers are being let in slowly as to not overload the platform’s operations and moderation capabilities). The platform has already secured an undisclosed quantity of funding from Andreessen Horowitz (a16z), in addition to Scott Galloway, an NYU professor and tech commentator. Silicon Valley journalist Kara Swisher said she is an advisor to the corporate however will not be an investor.
A16z is a curious alternative for an investor in a Twitter various, on condition that the enterprise capital agency contributed $400 million to Musk’s Twitter acquisition. Sriram Krishnan, a crypto investor at a16z, has additionally been working closely with Musk at Twitter HQ. However Bardin said that he selected to work with a16z just because they have been the quickest investor to decide and fork over a test.
“This doesn’t imply that I’m a Crypto fan, that I feel [a16z] ought to have funded among the personalities they funded lately or that I agree with each assertion of theirs,” Bardin wrote on his Submit Information account on Sunday. “We did focus on the Twitter funding on the highest degree and I can guarantee you that it’s not an issue — Submit is separated from the individuals concerned with Twitter and a transparent line has been set.”
TechCrunch reached out to Bardin and a16z for remark.
Submit Information’ targets are formidable. Not solely is the platform making an attempt to compete with a longtime social media mainstay, however its enterprise mannequin depends on digital information publishers opting in to its mannequin of charging readers per article, fairly than for a subscription. Plus, the platform is quickly rising whereas it’s nonetheless constructing out key security options, which makes issues a bit precarious.
“I need to remind everybody that it is a tremendous early beta and it’s not proper for everybody,” Bardin wrote on Monday. “Individuals in search of a refined product must wait. It’s OK to take a break and are available again when issues are manufacturing grade — betas aren’t for everybody.”