AOL buys the Silicon Valley tech blog TechCrunch

By SiliconIndia   |   Wednesday, 29 September 2010, 03:21 Hrs   |    1 Comments
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San Francisco: AOL has announced that it will buy influential technology blog 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, further bolstering AOL's tech-oriented content. The announcement will be made on stage at TechCrunch Disrupt in San Francisco, CA, the TechCrunch website reported.

TechCrunch will remain headquartered in San Francisco, CA, as a wholly owned AOL unit. Although the deal terms were not disclosed, the U.S. media has estimated the price tag at around $25 million.

It is AOL's second key blog network acquisition after it acquired Weblogs in October 2005. Weblogs now integrated with AOL News includes popular blogs Engadget, JoyStiq, TUAW, DownloadSquad and Switched; TechCrunch, known for being boisterous, is expected to retain its editorial independence.

TechCrunch was founded in 2005 by serial entrepreneur and lawyer Michael Arrington. TechCrunch has a number of other websites including MobileCrunch, CrunchGear, TechCrunchIT, GreenTech, TechCrunchTV and CrunchBase. Arrington will remain with TechCrunch for at least 3 years.

"Michael 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," said Tim Armstrong, Chairman and Chief Executive Officer of AOL. "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," he added.

Heather Harde, Chief Executive Officer of TechCrunch, said "TechCrunch and AOL share a motivating passion for quality technology news and information, and we're 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."

Michael Arrington, Founder and Co-Editor of TechCrunch, said, "I look forward to working with everyone at AOL as we build on our reputation for independent tech journalism and continue to set the agenda for insight, reviews and collaborative discussion about the future of the technology industry."

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