MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – It’s the best news one could ever receive: that someone just gave you P5 Million pesos.
That’s exactly what happened to 14 of Rappler’s senior managers who received the news that the online news source’s foreign investor, Omidyar Network, is donating its P78 Million investment to them – equally.
But there is one problem: Omidyar’s investment has long been gone. Rappler has failed financially and has used up all the investment money.
That’s very depressing for Rappler’s 13 senior managers (Ressa is the 14th). So they are planning to stage a protest rally tomorrow in front of Rappler’s officers to demand an accounting of funds — local and foreign.
More trouble for an already-troubled Rappler.