US tech publication raises funds from Ukraine and plans to launch R&D activity in the country

Earlier this month the Ukrainian venture firm Genesis Investments announced a $150,000 investment in a US online media about technology and startups called Hacker Noon. The capital injection came as part of a $350,000 round from the Greater Colorado Venture Fund, which valued the company at $11.5 million.

Genesis previously invested in startups founded or operating in Ukraine, Belarus, Estonia, Latvia and Lithuania, as well as Africa — but the Hacker Noon deal marks the first investment in the USA. 

Hacker Noon is an online publishing platform for IT specialists and people working in startups and tech companies. The audience mainly consists of readers from the USA, India, UK, Canada, and Germany. Hacker Noon is based on user-generated content: any reader can sign in and submit a piece for publication. 

According to Genesis Investments, Hacker Noon will use the fresh funding to reach a new audience and make its website more profitable. 

Although over 13,000 users worldwide contribute to the website, the core team consists of only 14 people, including two Ukrainians. Hacker Noon plans to expand globally and reach a Ukrainian audience, too, while Genesis expects the media company to open its R&D center in Ukraine.

Sources: Genesis, Kyiv Post

Topics: Finance, International, Internet, News, Online media, Venture/Private equity
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