The new company, which has the working name of Planet Daily,
will target news enthusiasts on mobile devices, Mr. Lerer said in
an interview with Ad Age last month.
"What we're not going to be doing is showing talking heads in
the newsroom, which is what everyone else is doing," he said. "What
we hope to succeed at is building a product that will deliver news
that will primarily be consumed on your phone and on your tablet
and be social."
A bit vague? Yes. But Mr. Lerer said he's confident now is the
time to bet on new platforms for video.
"There are certain trends that are for sure: mobile, video, and
social," he said in the interview last month. "Five years ago, we
would have been insane to do this, and five years from now people
will say 'Why the hell didn't I do that ?' Just like it was the
right time to do HuffPo, I think it's the right time to do
something like this."
Besides Messrs. Lerer and Hippeau, the startup's board also
includes venture capitalist Fred Harman (a former HuffPo board
member), Bedrocket CEO Brian Bedol and former CBS executive Nancy
Tellem. The startup recently has raised $5 million.
In addition to Mr. O'Keefe, Planet Daily has made four hires,
including Katharine Zaleski, formerly executive director of digital
news at the Washington Post.