AOL has acquired TechCrunch and its network of websites dedicated to technology news, information and analysis. TechCrunch and its associated properties and conferences will join the AOL Technology Network while retaining their editorial independence. The acquisition price was not disclosed.
AOL has acquired TechCrunch and its network of websites dedicated to technology news, information and analysis. TechCrunch and its associated properties and conferences will join the AOL Technology Network while retaining their editorial independence. The acquisition price was not disclosed. Business Insider heard that it was $25 million. CNBCâ€™s sources say AOL paid $40 million.
Founded by Michael Arrington in 2005, TechCrunch operates a global network of dedicated properties from Europe to Japan, as well as vertically-oriented websites, including MobileCrunch, CrunchGear, TechCrunchIT, GreenTech, TechCrunchTV and CrunchBase. TechCrunch also hosts conferences and events, including The Disrupt series, The Crunchies Awards and various meet-ups worldwide.
â€œMichael and his colleagues have made the TechCrunch network a byword for breaking tech news and insight into the innovative world of start-ups, and their reputation for top-class journalism precisely matches AOLâ€™s commitment to delivering the expert content critical to this audience,â€ Tim Armstrong, chairman and chief executive officer, AOL, has said.
Heather Harde, chief executive officer, TechCrunch, has said, â€œTechCrunch and AOL share a motivating passion for quality technology news and information, and we are delighted about becoming part of the AOL family. This represents a compelling opportunity to extend the TechCrunch brand while complementing the great work of sites like Engadget and Switched.â€
In a blog post, titled â€˜Why we sold TechCrunch to AOLâ€™, Michael Arrington, founder and co-editor, TechCrunch, has said, â€œThe truth is I was tired. But I wasnâ€™t tired of writing, or speaking at events. I was tired of our endless tech problems, our inability to find enough talented engineers who wanted to work, ultimately, on blog and CrunchBase software. And when we did find those engineers, as we so often did, how to keep them happy. Unlike most startups in Silicon Valley, the centre of attention at TechCrunch is squarely on the writers. Itâ€™s certainly not an engineering driven company.â€
â€œAOL of course fixes that problem perfectly. They run the largest blogging network in the world and if we sold to them weâ€™d never have to worry about tech issues again. We could focus our engineering resources on higher end things and I, for one, could spend more of my day writing and a lot less time dealing with other stuff,â€ Michael Arrington has added. â€œSo we begin another journey. I fully intend to stay with AOL for a very, very long time. And the entire team has big incentives to stay on board for at least three years.â€