AOL Close to Buying TechCrunch

Discussion in 'Growing and Managing a Business' started by realitybites.in, Sep 28, 2010.

  1. realitybites.in

    realitybites.in
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    AOL, the New York-based online media company, is on the verge of acquiring TechCrunch, the online blogging network started by former attorney, Michael Arrington. The deal is at a sensitive stage and might fall apart yet, but I don’t think so. Sources familiar with both entities says that the announcement is likely to come onstage at Disrupt, TechCrunch’s flagship conference currently underway in San Francisco.

    AOL CEO Tim Armstrong is likely to make an appearance at the conference, and perhaps that’s when the announcement is likely to be made. Michael Arrington was unreachable for comment, and AOL has not returned my calls. I still don’t know the terms of the deal, and will update the post accordingly.

    http://gigaom.com/2010/09/27/aol-close-to-buying-techcrunch/
     
  2. realitybites.in

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    Why We Sold TechCrunch To AOL, And Where We Go From Here

    By now you must have heard the news that AOL has acquired us. Here are videos of the on stage signing of the agreement and an interview with AOL CEO Tim Armstrong immediately afterwards.

    So how did all this happen? And What happens to TechCrunch now?

    In May I had a chance to interview Tim on stage at TechCrunch Disrupt: New York. After the talk we went to the speaker room for a quick private chat (this happens after most talks unless the speaker has to rush out).

    Tim asked me how things were going at TechCrunch. I told him I was exhausted after five years but that a recent move to Seattle made it easier to balance my life. I joked that I was half retired.

    “That’s too bad, he said, we’d love to acquire you but we’d need to know you would stick around.”

    “Wait. What? Yeah I’m great! Lots of energy, I’m having so much fun! Will probably do this for the rest of my life.”

    We laughed, and that was the end of any conversations for a while. But Sometime in late July conversations started again. And most of the conversations were about our commitment to keep doing what we do.

    http://techcrunch.com/2010/09/28/why-we-sold-techcrunch-to-aol-and-where-we-go-from-here/
     
  3. Fergal

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    Wow, big news, some of the comments on the TC blog post about this are very interesting. Well done Mike Arrington, I hope he enjoys the money and puts it to good use. I wonder how much he got for it.

    I'm surprised by them giving an inability to find good engineers, as the reason for the sale. TC is hosted on a WordPress VIP platform, so a lot of the tech work is outsourced. If a hugely popular tech blog can't find a way to hire engineers, what hope is there for any of the rest of us. If Tech Crunch could not hire technical people no one could. I congratulate them for building such a successful business and becoming hugely rick by selling, but really is there any need to insult reader's intelligence by telling them they sold because they couldn't hire engineers? :)

    I'd imagine TC's technical staff are not exactly impressed with this.
     
  4. Kay

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    TechCrunch bosses aren't known for their diplomacy, that's for sure. And they have been complaining about that WordPress VIP platform for ages via snide posts, Fergal. Even their own members were saying in the comments more and more how petty their whining had become about it. Posts like this one are a perfect example. Matt Mullenweg of WordPress was very civil to them and they can't even address him by his full name in the update. I stopped going because I got sick of reading their nonsense. They strike me as very pompous.
     
  5. Fergal

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    We previously discussed their issues with WordPress here. I'm not sure if they are pompous or simply courting controversy. Controversy is an important element in a story getting talked about and going viral, this increases readership and eventually leads to a multi-million Dollar buy out. Maybe they are just very smart and not necessarily pompous. :)
     
  6. Kay

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    The old "there's no such thing as bad publicity" eh. :) Could be. AOL also snapped up another couple of companies recently, neither of which I'd heard of.

    AOL's Path to Reinvention|CNNMoney
     

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