GoFundMe that raised more than $300,000 in three days.“This is wonderful news,” editor-in-chief Gabriel Arana said. “The Observer is indispensable to Texas and to democracy.” The publication was founded in 1954.The board of the Texas Democracy Foundation, which owns the Observer, said they have secured short-term pledges to bridge an immediate budget shortfall, “thanks to the extraordinary success of the staff’s fundraising this week.” Breaking: The @TexasObserver had planned to lay off its staff after its nonprofit board voted to shut down.