• VentureBeat, Wednesday, May 5, 2010 1:25 PM

Newsy just raised $2 million from some unnamed angel investor. The startup, according to Venture Beat, "is trying to do for the mobile video explosion what Ted Turner did with the cable TV explosion thirty years ago: Deliver a new kind of news enabled by the technology." Founded in 2008, Newsy is not in the business of original reporting or automated aggregation.

Rather, it prepares two-to-three-minute online videos, which highlight and explain the different coverage angles on a particular news story from different media sources. "The goal isn't to look for biased reporting, but rather to provide viewers with a wider range of valuable information on a hot topic," according to Venture Beat. Newsy's human journalists summarize the expanding news-o-sphere so users don't have to do it themselves.President Jim Spencer said the investment "will allow us to grow our news operations and deliver a remarkable product."

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