What sort of a blogging empire does $80 million get you?

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Jim Bankoff raises another $40 million (to add to the existing $40 million) in Vox Media, home of SB Nation, The Verge, Polygon, and a number of other blogs. That’s a lot of capital, and I struggle to see a buy-out as an end game for Bankoff and the team. This is either going to be a rather large IPO, or a forward looking attempt to establish Vox as a CBS/NBC/ABC for the 21st century and stay around forever.