AOL Buys TechCrunch
Sept 28, 2010. -Today AOL continues on with their apparent agenda of technological domination with the acquisition of TechCrunch. The price is has not been made public, but anonymously reported to be $25 to $40 million.
TechCrunch the popular news site based in the Silicon Valley well known for covering technical and digital business issues has been on the scene for 5 years and has gained much respect and notoriety among news sources.
Tim Armstrong, Chief Executive Officer of AOL made the announcement, during a tech industry conference (TechCrunch Disrupt) hosted by AOL in San Francisco. Mr. Armstrong, former Google executive and Mike Arrington, from TechCrunch signed the deal on stage at the event.
Mr. Arrington agreed to stay on for at least three years. This should help the acquisition go more smoothly. According to the AOL statement, TechCrunch will remain independent as far as editorial content. Engadget was also bought by AOL under similar circumstances. Engadget’s founder Peter Rojas told The Atlantic “AOL left us alone, no one ever tried to meddle with the editorial or tell us what to do or not do.”