What to do when your main investor suddenly becomes the least popular businessman in the United States?
The new online media Semafor, founded by Justin Smith, former CEO of Bloomberg Media, and Ben Smith, former star columnist of the
New York Times
and editor of BuzzFeed News, finds itself today splattered by the bankruptcy of the platform FTX and the disgrace of its founder Sam Bankman-Fried.
Before the spectacular fall of his cryptocurrency empire and his indictment for fraud, the 30-year-old had invested nearly $10 million in Semafor, out of the $25 million raised in seed.
"This investment had made him the first external investor
(apart from the investment of the founders, editor's note)
of the media"
, revealed Justin Smith at the beginning of the week.
On the other hand, this first round of funding, necessary to launch the media start-up, had provided Sam Bankman-Fried with
“no real action, since Semafor relies on a shareholding structure…
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