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Tuesday, September 28, 2010

AOL to Buy TechCrunch; Reported Price Tag is $25 Million

Posted By on Tue, Sep 28, 2010 at 12:30 PM

click to enlarge Michael Arrington
  • Michael Arrington
AOL has announced that it is buying the San Francisco-based tech industry blog TechCrunch, an influential business news site that has built a strong following in Silicon Valley.

Initial reports suggest the acquisition price -- which has not been publicly disclosed by either party -- was on the order of $25 million, with CNBC reporting a figure of $40 million. The Business Insider, another business news blog, calls $25 million "a surprisingly low figure," given TechCrunch chief Michael Arrington's past claims that his company's revenue is about $10 million.

If you don't work in tech or follow the flow of venture capital in Silicon Valley, chances are you haven't heard of TechCrunch. While influential among industry insiders, the site confines itself to a fairly steady diet of gadget reviews, breaking business coverage, and occasional jeremiads on various aspects of the tech industry by Arrington, its founder and dominant editorial voice.

One question amid the buzz over the acquisition is what Arrington's future under AOL will look like, with some speculating that he would bridle under the restraints of working for the Internet giant. Arrington reportedly said he will stay with the company for at least three years.

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Peter Jamison


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