Yesterday Michael Arrington, founder of TechCrunch announced at the TechCrunch Disrupt conference that TechCrunch and its networks of sites had been purchased by AOL.
There have been many rumors about how much AOL paid for TechCrunch, with figures of 25 million, 40 million and even 96 million appearing on the web, neither TechCrunch of AOL has disclosed the details of the deal.
In a recent blog post over on TechCrunch, Arrington explains the reason behind the sale, and also states that he will be staying on at TechCrunch for at least three years.
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.
Head on over to TechCrunch and check out the full article.