Kara Swisher and Walt Mossberg launches new website Re/Code
Kara Swisher and Walt Mossberg, former editors at AllThingsD, is launching a new website called Re/Code. AllThingsD launched as an extension of the D: All Things Digital conference in 2007 started by Swisher and Mossberg. Swisher and Mossberg have a majority control of the venture and unnamed investors are taking around one-third of the business.
It is believed that NBCUniversal is one of the investors in Re/Code. News Corporation is launching a new website called WSJD, which will host a global conference in Laguna Beach, California in October.
“We made a strategic decision last year to invest heavily in technology coverage,” stated Wall Street Journal Editor-in-Chief Gerard Baker said today in an online statement. “WSJD represents the first fruits of that investment. No topic is more important to our readers than tech.”
The new Swisher-Mossberg startup has a valuation of between $25 and $35 million. The editors could not agree to News Corporation terms to retain the AllThingsD brand.
Most of the current AllThingsD staff will become employees of Re/Code, which is short for the name Revere Digital, named after Revolutionary War hero Paul Revere.
[Source: Bloomberg]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry