Andre Yoskowitz
28 Sep 2010 15:38
AOL CEO Tim Armstrong has confirmed today they have acquired the very popular technology blog TechCrunch.
TechCrunch was founded in 2005 by Michael Arrington.
GigaOM, a rival tech blog, first broke the news yesterday that a deal was in the works.
At TechCrunch’s Disrupt conference, Arrington and Armstrong signed the actual contract on stage, in front of a full audience.
AOL's only condition is that Arrington stay as part of the site until 2013, at least.
The reported price for the acquisition is $25 million, even though the site reportedly brings in $10 million per year.