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The site was launched in July 2009 by former Seattle Post-Intelligencer journalists. It has three full-time editorial employees, along with several contributors and interns, and it primarily syndicates its work to other news outlets, such as The Oregonian and SeattlePI.com.
Its planned $1.35 million first-year budget was intended to be funded by a variety of grants and donations from foundations, businesses, and individuals. Though almost none of that funding was in place at its founding, the site would ultimately receive grants from the Bullitt Foundation and the Ethics and Excellence in Journalism Foundation, and later from the Brainerd Foundation and the Bill and Melinda Gates Foundation. In 2014, the site announced $200,000 in grants from three different foundations.
Bloomberg is a financial news and data company founded in 1981 and primarily owned by billionaire and New York City mayor Michael Bloomberg. The vast majority of Bloomberg’s $8.3 billion in 2013 revenue — 82 percent, as of 2012 — are tied to its $20,000-per-year financial data terminals used by 318,000 subscribers as of 2014, but the company’s…