Rest of World, the nonprofit technology news outlet founded by Sophie Schmidt, plans to stop publishing independently in January unless it finds a new home, just six years after launching with a $60 million funding commitment.
The publication, which focuses on technology’s impact outside the Western world, has experienced a sharp decline in website traffic over the past 18 months, Semafor reported Sunday. Schmidt, the daughter of former Google CEO Eric Schmidt, has been exploring potential partnerships with larger institutions to keep the outlet operating.
The threatened closure is particularly notable given Rest of World’s financial backing and its mission to cover technology developments often overlooked by major U.S. news organizations. Its difficulties illustrate how even philanthropically funded publishers can struggle to sustain an audience.
In a 2020 letter introducing the publication, Schmidt described its mission as documenting how technology was changing everyday life in places that received comparatively little attention from Western news outlets.
Six years later, Schmidt told donors that Rest of World would “cease publishing as a standalone entity” at the end of January, according to New York Times media reporter Ben Mullin. Semafor reported that the publication has established a late-January wind-down date intended to allow employees to receive exit packages if efforts to secure a partner fall through.
Rest of World deputy editor Rina Chandran acknowledged the planned closure in a LinkedIn post Monday, saying the newsroom would continue publishing through January while its leadership searched for a new home.
“If you are a freelancer or columnist who has already been commissioned, you’re good!” Chandran wrote, adding that any existing work would remain accessible.
The potential shutdown comes as news publishers contend with declining referrals from search engines and social platforms, alongside the emergence of AI tools that answer questions without directing users to news websites. Semafor reported that Rest of World’s leadership had attempted to address declining readership by adjusting its coverage and requiring readers to register, but traffic continued to fall.
Rest of World did not immediately respond to TheWrap’s request for comment.
