How are European journalism start-ups and digital-born news media handling the basic challenges facing all new (and old) journalistic outfits: what do you focus your editorial resources on, how do you distribute your journalism, and how do you fund it? This panel brings together different kinds of digital journalism outfits—based on advertising (El Confidencial), membership/subscription (De Correspondent), and donations/foundation support (OCCRP)—to discuss editorial, distribution, and funding models for digital journalism in Europe, an environment that is often as technologically developed as that found in, for example, the United States, but also characterized by smaller markets, often strong incumbents, and fewer venture capital investors. How do start-ups and digital-born news media navigate this environment, and what kind of journalism do they empower?