Stears Business, a Nigerian media firm based in Lagos has raised $600,000 seed funding with participation from Omidyar Network’s Luminate.
Stears is a digital media & information company that fills this gap by providing audiences and organizations with accurate, unbiased, and digitised information on economic and business activity around them.
Stears has various arms that provide data-driven insights to public audiences and individual consumers in different forms:
Stears Business curates and publishes business news analysis and insight from its in-house journalists and an extensive network of contributors and professionals in banking, consulting, law, academia, government, and civil society, both in Nigeria and the diaspora.
Stears Data, its data collection, research, and data access services arm works directly with customers to supply the information and data they need to make informed decisions in business and public policy.
In a statement announcing the investment in Stears Business, Luminate said: “We’re pleased to announce our participation in Stears’ seed investment round alongside two other investors.
“Stears has already demonstrated its value in providing accurate news and analysis that enables policymakers, investors, civil society, international development institutions, and Nigerians both in and outside the country to make informed business, economic, and political decisions, and to actively participate in public life.
“By prioritizing quality, the company is also contributing to rebuilding public trust in the media in Nigeria(and beyond), while simultaneously building up a cohort of talented young writers contributing to public dialogue.”
