If everything about Jim VandeHei‘s new media venture save for some some staff hires was previously a mystery, we now know something about its shape and purpose. The still-unnamed company will offer largely subscription based offerings in the areas of technology, business and health mixed in with a bit of politics and media for a target audience of business execs and professionals, according to Wall Street Journal’s Lukas Alpert.
A clearer picture of the org’s leadership structure has emerged as well, with VandeHei as chairman and CEO, Roy Schwartz as president and Nicholas Johnston as editor in chief. Schwartz had been chief revenue officer at Politico. Johnston had been managing editor at Bloomberg.
The company, whose debut is currently set for early 2017, collected $10 million in funding last week from backers that include Lerer Hippeau Ventures (LHV), who had been involved in the launch of BuzzFeed and Huffington Post; NBC News, which will be a media partner; Emerson Collective, whose president is Laurene Powell Jobs; Greycroft Partners; and Katherine Bradley and Atlantic Media owner David Bradley.
NBC News chairman Andy Lack and LHV managing partner Eric Hippeau will be board members.
Alpert reports that the 17 current hires will grow to between 50 and 60 by launch.