The rise of news startups in their modern incarnation has taken place on a global scale, and needs consideration as a phenomenon. First, a brief history of news startups is provided, followed by a theoretical framing that explores how they both differ from and normalize existing aspects of professional journalism. News startups stretch the boundaries of the profession through discursive claims about iteration and innovation, but nonetheless draw on the longstanding aspirations of legacy journalists for inspiration. The types of funding models are overviewed (philanthropic/nonprofit, government-funded, venture-backed for-profit, for-profit, and ideological-advocacy) and are posited against a matrix of types of news startups (original-content creators, aggregators/curators, platforms, and business-to-business). News startups face future challenges to their survival and a discussion is needed on their fragility in the context of flexible and venture labor.