Cory Booker developing online news service for Generation Y

In a bid to fight what he calls "an oligarchy in the media," Newark Mayor Cory Booker told TechCrunch he's been working on an alternative news service geared toward the Millenial generation.

Dubbed #waywire, Booker said the site will blend original and syndicated video content, while allowing people to share their own recorded responses, a mix he said will help it function as an alternative to not just traditional media outlets, but sites like Facebook and Twitter.

“There are practical solution to [creating] more jobs, lower crime, better education," Booker said. "If more people could find their voice and be part of the national dialogue, we could solve these problems.”

The project has already garnered $1.75 million in funding, including donations by Oprah Winfrey and LinkedIn head Jeff Weiner, among others, with former Dow Jones online and ContextNext Media head Nathan Richardson serving as CEO.

“Say I see this post from a traditional media source on something like healthcare, but don’t understand what it means to me," Richardson told TechCrunch. "[On #waywire I’d get] a millennial point of view. ‘Oh, you just graduated and can be on your parent’s healthcare plan until you’re 26. You just scored.’”

The site is currently taking sign-ups for a beta version, and has posted a video on YouTube, which can be seen below: