AOL Bags TechCrunch For a Whooping $25 Million
September 29, 2010 | by techlineinfo.com
Big things happening to big people is indeed breaking news.
Aol and TechCrunch are altogether two big names in the on-line media biz. Rumors spread that Aol was on its way to hunt down Michael Arrington’s TechCrunch. But, the confirmation just came in. Aol have purchased TechCrunch and Business Insider quoted the amount of the deal to be $25 Million. Now, this is a phenomena, you should keep an eye on. Aol has recently not been in big news lately only to erupt with its TechCrunch deal. Guess, they have been doing there homework all this time.
According to the pact that has been made TechCrunch will be retaining their prestigious editorial independence. TechCrunch Inc. the governing body behind TechCrunch and the other sites of the network will now be working hand in hand with Aol Technology Network. The announcement is supposed to be officiated at TechCrunch Disrupt in San Francisco, CA.
TechCrunch Inc. happens to be a web publication that offers its readers with technology news and analysis, as well as facilitates the profiling of start-up companies, product previews and reviews and many other sub-let websites. The venture was founded in 2005 and is headed by Michael Arrington. TechCrunch proudly flaunts the awe-inspiring Technorati rank of 2. Major names pertaining to the network are MobileCrunch, CrunchGear, TechCrunchIT, GreenTech, TechCrunchTV and CrunchBase. TechCrunch has been placed on the number one position by the TechMeme Leaderboard who claim the site to be one of the best source of breaking tech news online. AOL’s Engadget follows the trails of Techcrunch.
AOL Inc. on the other hand has been in the biz for decades. The company formerly known as America Online was founded in 1983. Aol is presently leaded by Tim Armstrong who holds the glorifying positions of Chairman and CEO of the company.
In an exclusive press release Tim Armstrong said,
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, 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.
When questioned, Heather Harde, Chief Executive Officer of TechCrunch, revealed,
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. Our contributors, and our audiences, can look to the future with excitement about what we can build when we have the significant resources of AOL behind us.
Finally it was Mike Arrington who spoke his heart out, well what he had to comment on the deal is,
Tim Armstrong and his team have an exciting vision for the future of AOL as a global leader in creating and delivering world-class content to consumers, be it through original content creation, partnerships or acquisitions. 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.
Clearly, with this take-over AOL has seamlessly paved their path to top the charts and be the big name in the tech blogging biz. Let’s keep our fingers crossed to find out what their offerings are for the future. Do you have any ideas already? C’mon don’t be shy, feel free to share with us.