Business29.09.2010
AOL buys TechCrunch
AOL boss Tim Armstrong and TechCrunch founder Michael Arrington signed the deal onstage at TechCrunch’s Disrupt conference.
TechCrunch was founded in 2005 and shot to prominence as one of the most important blogs covering Silicon Valley, after it broke the news of Google’s deal to buy YouTube in 2006.
The acquisition is part of AOL’s strategy to build a network of blogs as it switches to an advertising-based model from its previous business of selling internet access.
The company, which merged with Tine Warner at the height of the dot-com boom until being spun off in 2009, now includes blogs such as Engadget, TVSquad, Autoblog, DailyFinance and WalletPop in its portfolio.
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