Techcrunch getting sold
Get flash to fully experience Pearltrees
I’m very pleased to announce that we have acquired TechCrunch. Details are in the press release below, and I’m sure founder Michael Arrington will have a few words to say as well. This is a great complement to our continued investment in world class content.
Tim Armstrong: We Got TechCrunch!
By now you must have heard the news that AOL has acquired us . Here are videos of the on stage signing of the agreement and an interview with AOL CEO Tim Armstrong immediately afterwards. So how did all this happen?
Why We Sold TechCrunch To AOL, And Where We Go From Here
What the TechCrunch Deal Means to Me
I accepted a job offer with TechCrunch on June 7th, 2006 - days before the site celebrated its first birthday. I left AOL for the position. I worked there for less than a year but it made a huge impression on my life and career. Today I got to see, on live streaming video, TechCrunch founder Michael Arrington sign a contract on stage to sell the site to AOL. As co-editor today of a competing site, and as someone whose big break was joining TechCrunch as the site's first hired writer, I have a lot of thoughts and feelings about the deal and what it means. Things I Learned About Blogging from Michael ArringtonTechCrunch, a San Francisco-based company that publishes the influential blog of the same name, started as a hobby. In 2005, Michael Arrington, a serial entrepreneur and former lawyer, was researching Silicon Valley start-ups and decided to post his findings online. Since then, TechCrunch, which draws about 9.2 million visitors a month and boasts annual revenue of about $10 million, has become the go-to source for breaking news about Internet start-ups and tech companies. Although TechCrunch has 25 full-time employees, Arrington, 40, still spends much of his time reporting and writing. On most days, he works remotely from his home near Seattle, in a cavelike home office. From morning until night, Arrington sits in darkness in front of his computer—blasting music, working his contacts, and focusing on what he loves best: breaking big stories.
The Way I Work: Michael Arrington of TechCrunch
AOL Insider Says TechCrunch Price Only $25 Million â CNBC Says $40 Million
If true, this would be a surprisingly low figure. TechCrunch boss Michael Arrington recently pegged the company's revenue at "nearly $10 million," and $25 million would only be 2.5X this number (versus 6X for a recent public-market buyout for Internet Brands). It's possible that the $25 million is just an initial payment and that the price could include earn-outs for performance and retention. (If we were negotiating this deal for AOL, we'd certainly have included an earnout, as the company's value could quickly disintegrate without it).
Breaking: AOL Close to Buying TechCrunch: Tech News «
AOL, the New York-based online media company, is on the verge of acquiring TechCrunch , the online blogging network started by former attorney, Michael Arrington. The deal is at a sensitive stage and might fall apart yet, but I don’t think so. Sources familiar with both entities says that the announcement is likely to come onstage at Disrupt, TechCrunch’s flagship conference currently underway in San Francisco. AOL CEO Tim Armstrong is likely to make an appearance at the conference, and perhaps that’s when the announcement is likely to be made. Michael Arrington was unreachable for comment, and AOL has not returned my calls.The news/rumor that Techcrunch is up for sale quickly made the rounds at the Techcrunch Disrupt conference this afternoon. GigaOm started it with a post that a sale to AOL is close at hand . I’ve been burned by these kinds of rumors before, I remember when it was rumored that AOL was buying Mashable, but those discussions never led anywhere. This time, however, I was back stage at the Disrupt conference when the news started making the rounds. I quickly asked staff members about the rumor.
Techcrunch Disrupted by AOL: The end of an era in tech blogging? — Scobleizer
AOL Is Close To Buying TechCrunch
AOL is close to buying TechCrunch, Om Malik of GigaOm reports . The deal could still fall apart, but Malik seems certain that it will close. He says it will be announced on stage at TechCrunch's big conference, Disrupt. While TechCrunch is the work of many talented people, the site is still driven largely by the personality of its founder Michael Arrington. He sets the tone, he delivers the most scoops.
Here's Another Reason AOL Is Buying TechCrunch -- It Comes With Digital M&A Specialist Heather Harde
If Om Malik's information is correct, TechCrunch will be announcing a sale to AOL today or tomorrow . As long as AOL is committed to the premium content business--a commitment that has seemed to waver of late--this is a smart move. TechCrunch's traffic and revenue will soar when the company is plugged into AOL's salesforce and distribution system, so whatever AOL pays as a multiple of TechCrunch's current revenues will be chicken-feed relative to the revenue the integrated site will ultimately generate.AOL Tried To Buy TechCrunch Twice Before
During the second run, AOL wanted to buy TechCrunch for something a little under $25 million. TechCrunch, in negotiations led by CEO Heather Harde, wanted closer to $30 million. AOL wouldn't go there because it thought too much of TechCrunch's revenues were from a conference business it didn't entirely own itself. TechCrunch has since divorced itself from its one-time conference collaborator, Jason Calacanis, and launched a wholly-owned conference series, Disrupt.
Michael Arrington is having a hard time adjusting to his new hometown. The TechCrunch publisher -- who moved to the Seattle area last month -- made his first official appearance in the Seattle tech community Tuesday night at the TechFlash Town Hall Summit. And while Arrington attempted to fit in by wearing a yellow rain poncho, he admitted that he was having a hard time understanding the mindset of the tech community in the Pacific Northwest.