Social media is a terrible medium for news. Aside from the ability for anyone to post anything, which can easily lead to misinformation, it also sets up the absolute worst incentives. If news organizations are expected to share their reporting for free, and only be able to monetize when someone clicks through to their page -- you end up with clickbait.
It also means that virtually all local news is silenced. Almost by definition, local news appeals to a narrow audience, which doesn't lead to the scale social algorithms favor.
We're trying to take the convenience and brevity of social news updates, but use them to build a new platform that helps reporters and surface trustworthy, local news. We make tools for newsrooms that then syndicates out to the consumer platform, before an article or video is ever even made. (We are to news what OpenTable is to restaurants.) And through rev-shares, our partners succeed when we do.
https://www.forthapp.com is our consumer side, https://www.nillium.com/newsrooms for the newsroom SaaS.