Over years popular TechCrunch blog had grown from reporting about startup news to a huge and dynamic network of technology news media. Being alive since 5 years, Michael Arrington brought up his baby to become one of the most trusted and relevant source of news over Internet. TechCrunch and Arrington are now synonymous with breaking news, especially about startups. Apparently AOL sniffed the potential of the blog network’s future and revenue and is ready to take over TechCrunch for an undisclosed price.
AOL CEO Tim Armstrong announced in the annual TechCrunch Disrupt that AOL would be taking over TechCrunch, but no disclosure about the price of deal was done. Some of the credible sources are citing that the price of the acquisition is $25 million, yet rumors are doing rounds about much higher price.
TechCrunch is not the only major acquisition in AOL’s pocket. Many of the major tech sites of industry including Engadget, Switched, TUAW and DownloadSquad work under AOL flag. In a post on TechCrunch, Tim Armstrong expressed his excitement over the acquisition:
“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.”