AOL bought the technology news blog TechCrunch. The main goal of the deal is to boost AOL’s growing online editorial business. The companies didn?t disclose terms, however according to some source (New York Times) the price tag is more than $35 million.
AOL is taking seriously the goal of being seen as a hub for online news. Beside the mentioned deal, t he company has hired hundreds of reporters. AOL has already one similar website – Engadget which gets about 7.3 million visitors a month.
According to the news from New York Times, TechCrunch “generates $10 million in annual revenue and $3.5 million in profits.” The website has about 3.8 million unique visitors a month, and it is one of the most popular technology news websites.