Date
22 September 2017
Ng Hiu-tung has announced that his crowdfunded media venture has raised more than HK$3 million in less than two months. Photos: RTHK, FringeBacker
Ng Hiu-tung has announced that his crowdfunded media venture has raised more than HK$3 million in less than two months. Photos: RTHK, FringeBacker

Media startup prepares to take off after successful crowdfunding

Veteran journalist Ng Hiu-tung announced Tuesday that his crowdfunded media venture has raised more than HK$3 million in less than two months, allowing him to create the FactWire news agency. 

FactWire will be the first and foremost news agency in Hong Kong dedicated to investigative journalism, Ng said in a statement posted on the agency’s website.

According to him, FactWire completed its initial funding target of HK$3 million ten days ahead of the deadline.

Ng told Ming Pao Daily that it’s a dream come true. He admitted that when he began mapping out plans, he had some doubts whether crowdfunding would really work out.

Ng is now conducting an online opinion poll on the FringeBacker crowdfunding platform as to what should be the official Chinese name of the news agency. 

FactWire Press Foundation will be established shortly, followed by a two-week open recruitment of staff.

Depending on the response, Ng will also send out invitations to select journalists to join his team.

Thanking Hong Kong people for their generous contributions, Ng said the fund-raising effort will continue until September.

FactWire Press Foundation will accept public donations in the future. However, the organization eventually hopes to support itself through the sale of stories generated by the newsroom.

There was no mention of when Factwire will actually launch its news service.

Ex-TVB journalist launches crowdfunding for HK news agency (Aug 15, 2015)

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