Web Summit pulls funding for The Ditch website

The board of Web Summit has pulled funding for The Ditch website, effective immediately, as it seeks to refocus on its core business.

The tech events company was the news website’s main backer, with editor Eoghan McNeil saying in April that it had committed to funding of approximately €1 million over five years.

“Effective immediately, the Web Summit Board has made the decision that it will no longer financially support The Ditch,” the company said. “The Ditch is a separate organisation with its own editorial control and its views do not represent those of Web Summit.”

A spokeswoman for the company said the decision was part of Web Summit’s aim to refocus on its core mission. The company has seen a raft of changes in the past few weeks with the departure of cofounder Paddy Cosgrave following backlash over social media posts he made about the conflict between Israel and Hamas, and the appointment of former Wikipedia head Katherine Maher in his place.

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The company has not said how much funding has been paid to The Ditch to date.

“Web Summit respects independent media and editorial control,” the spokeswoman said. “As we move forward, we will continue to focus our affiliations and investments to reflect our core mission. Our events will remain a platform for open discussion and rigorous debate.”

General counsel for Web Summit, Adam Connon, was a part owner of The Ditch. However, he transferred his interest in the company last month, Web Summit said.

Questions have been raised about the company’s financial support of the new website following the departure of Mr Cosgrave, and the news website’s social media posts relating to Israel and Palestine. The site posted a Palestinian flag on October 7th, and an opinion piece a week later critical of the Israeli action in Gaza.

Established in August 2021, the site is owned by Mr McNeil and journalist Roman Shortall. It was not clear to whom Clonard Consulere Gentium, the entity owned by Mr Connon, transferred its interest in the enterprise. That stake was originally owned by Chay Bowes.

News stories published by The Ditch have contributed to the resignations of junior ministers Robert Troy and Damien English, and the deputy chair of An Bord Pleanála Paul Hyde.