Politico co-founder to launch news service for corporate executives

Jim VandeHei, one of the co-founders of Politico, is launching a news service for corporate executives, according to the Wall Street Journal.

{mosads}Last week, the company reportedly secured about $10 million in funding. It has also landed the backing of NBC News.

VandeHei, who has not disclosed the name of the new venture, left his position as Politico’s CEO in April, after telling his employees that he would be staying through the end of the election.

He has already hired 17 staffers hopes to have between 50 and 60 by the time the publication launches in 2017.

He is expected to be joined by journalist Mike Allen, who started the popular Playbook newsletter. Allen also departed Politico early after saying that he would stay until the election.