Investors George Soros, Reid Hoffman Help Launch Group to Combat Online Disinformation

WASHINGTON, October 26 (Sputnik) - Billionaire investors George Soros and Reid Hoffman are helping launch a corporation called Good Information Inc. that will try to counter disinformation online, the corporation said on Tuesday in a press release.

"With a multi-million dollar Series Seed investment led by Reid Hoffman and joined by investors Ken and Jen Duda, Incite, and George Soros, Good Information Inc. plans to invest in, incubate and scale new business models and smart distribution strategies that are capable of breaking through echo chambers and information silos to reach consumers with trusted information," the press release said.

Good information that upholds truth is the lifeblood of democracy, and orchestrated disinformation is its greatest threat, Good Information Inc. Founder and CEO Tara McGowan said in the press release. The "disinformation crisis" in the US is increasing polarization and corroding democracy, McGowan, a former Democratic strategist, said.

McGowan is joined at the corporation by former White House officials, media members, and authors. Investors George Soros and Reid Hoffman are also joined by Ken and Jen Duda and investing firm Incite.

The company will invest in media that serves communities that have too few choices when it comes to finding trustworthy information, the press release said. Its first major acquisition is Courier Newsroom, a network of eight local news outlets.