TechCrunch network acquired by AOL for $30 million

by on September 29, 2010

in Internet

Any one of you who is a web enthusiast and always hungry for the latest news and trends in the technology world, would be very familiar with the name ‘TechCrunch’. And why not? TechCrunch.com has been there for so long providing the latest news from all over the web.

TechCrunch.com - Latest technology news

AOL, the once high-flying internet portal, has acquired TechCrunch, a leading Silicon Valley technology blog started by Michael Arrington, continuing its expansion into Web content. The financial terms of the transaction were not disclosed but various reports put the purchase price at around US$30 million.

Tim armstrong - The AOL chairman and chief executive<Image Credit>

The TechMeme Leaderboard ranks TechCrunch as the No. 1 source of breaking tech news online, followed by AOL’s Engadget.

You can check the TechMeme Leaderboard here.

The sum of $30 million is not just for TechCrunch.com alone, but for the whole TechCrunch network (i.e. TechCrunch Inc.) which consists of CrunchBase, MobileCrunch, CrunchGear, TechCrunchIT, GreenTech, & TechCrunchTV, which are all dedicated to technology news, information and analysis.

The AOL chairman and chief executive, Tim Armstrong and TechCrunch founder, Michael Arrington made the acquisition announcement on stage at TechCrunch conference, TechCrunch Disrupt, in San Francisco.

In a statement today, Armstrong said,

Michael (Arrington) 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 AOL’s commitment to delivering the expert content critical to this audience.TechCrunch and its team will be an outstanding addition to the high-quality content on the AOL Technology Network, which is now a must-buy for advertisers seeking to associate their brands with leading technology content and its audience.

Seems like AOL is on a shopping spree acquiring many firms to lure its users and advertisers; AOL earlier today also acquired 5min Media, which has a library of more than 200,000 videos featuring content including fashion, cooking and fitness. AOL

Read More about the acquisition: Tim Armstrong: We Got TechCrunch!

Michael Arrington

Article by Amandeep Singh

Owner of Technolism. A Software Engineer by profession, an Engineer by education and a Web enthusiast and Blogger by Passion. You can catch him on Facebook, Twitter or Google+

Amandeep has written 222 informative articles for Technolism.

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