Why Re/code Really Sold to Vox
Last week, Jim Bankoff's Vox Media acquired an 18-month-old tech publication, Re/code.
Re/code was founded by highly respected tech journalists Walt Mossberg and Kara Swisher in early 2014. They had launched the AllThingsD tech news website and related D conferences for News Corp, and they essentially took that business with them.
When starting Re/code, Swisher and Mossberg raised $10 million at a ~$28 million valuation from NBCUniversal and Windsor Media. A source who has viewed the startup's financials says Re/code was projected to generate $12 million this year, up from $10 million last year.