Pulse2 Technology and Social Media News » TechCrunch

TechCrunch: We Are Not For Sale

Amit Chowdhry — Wed, 09 May 2012 20:17:10 +0000

TechCrunch editors Eric Eldon and Alexia Tsotsis said “we’re not being sold.” Instead TechCrunch has hired a bunch of “brilliant writers and a new COO.” Over 1,000 people attended their TechCrunch NYC meet-up last night as well. Traffic has been up with regards to unique visits year over year. They did hear about sales rumors as well with interest supposedly from Jason Calacanis.

“It’s actually amazing how much bullshit information/spin is out there (so be careful what you believe),” they wrote. AOL CEO Tim Armstrong and several other AOL executives decided that it might be a smart idea to turn TechCrunch, Engadget, and other tech properties into their own company valued at $200 million. Andreessen Horowitz and other angel investors almost considered putting $40 million into that new company for a 20% share. AOL would have 80% of it.

The plan was scrapped and AOL decided to keep 100% of all of the entities.

RUMOR: AOL Exploring Sale Of Engadget and TechCrunch

Amit Chowdhry — Wed, 09 May 2012 17:01:11 +0000

AOL is exploring the sale of technology websites Engadget and TechCrunch according to Sarah Lacy of PandoDaily.com. They are also considering selling off TUAW and Joystiq as a package along with those other two websites. The price they are seeking is around $70 to $100 million for all of the properties.

AOL has been considering this sale since early last year. Finding a buyer may take time so AOL is evaluating the sale over the next 6 months to a year. TechCrunch and Engadget’s brands have been strong, but both websites have lost a lot of their top talent over the last year. TechCrunch lost CEO Heather Harde, founder Michael Arrington, editor MG Siegler, and contributor Sarah Lacy. Engadget lost editors like Joshua Topolsky, Nilay Patel, Paul Miller, Ross Miller, Joanna Stern, etc.

Currently there isn’t any serious bidders, but several companies have expressed interest. Last year Michael Arrington and Heather Harde made an unsuccessful bid to buy back TechCrunch with Huffington no longer being part of the management of the website. But Arrington has lost interest in buying the company back and remains fully devoted to the CrunchFund venture capital company he is running:

“I don’t know anything. No one tells me anything. I am not in the least bit interested [in buying back TechCrunch]. I was Team Pando all the way until Sarah Lacy fired me. That does not change my position on TechCrunch.”

Former TechCrunch CEO Heather Harde Leaves AOL

Amit Chowdhry — Fri, 18 Nov 2011 15:30:02 +0000

AOL, Inc. (NYSE:AOL) is having a hard time retaining some of their talent. Within the last couple of days, AOL saw Brad Garlinghouse and Sarah Lacy leave the company. Now former TechCrunch CEO Heather Harde is leaving the company. Harde became an executive at AOL after technology blog TechCrunch was acquired. It is believed that Harde was pissed when a Huffington Post CEO sent out an e-mail bashing TechCrunch founder Michael Arrington.

On the Silicon Alley 100 list, Arianna Huffington was ranked number one in a listing about the most influential people in the New York tech scene. A Huffington Post publicist sent out a company-wide e-mail congratulation Arianna Huffington and it included a citation from Silicon Alley Insider saying “Huffington is more powerful than ever at AOL after she had Michael Arrington of TechCrunch booted for conflicts of interest when he decided to become a VC.”

Harde responded several hours later with her own staff-wide e-mail about the snub:

From: Heather Harde
Date: October 5, 2011 5:29:01 PM EDT
To: Mario Ruiz
Cc: [Huffington Post Media Group]
Subject: Re: Silicon Alley 100 goes live … at #1 … Arianna

Classy inclusion of the full SAI description, thx.

Would be nice also to recognize other folks within the AOL family on the list:
Tim Armstrong, CEO: http://www.businessinsider.com/silicon-alley-100-2011#tim-armstrong-7
Warren Webster and Brian Farnham, Patch: http://www.businessinsider.com/silicon-alley-100-2011#warren-webster-and-brian-farnham-97
Erick Schonfeld, TechCrunch: http://www.businessinsider.com/silicon-alley-100-2011#erick-schonfeld-98

Best,
Heather

AOL Posts Revenue Of $532 Million For Q3

Amit Chowdhry — Wed, 02 Nov 2011 12:58:36 +0000

AOL, Inc. (NYSE:AOL) has posted revenues of $532 million with an earnings loss of $0.02 per share. This is great news for the company because Wall Street was expecting the company to hit $524 million and a loss of $0.06 per share. The company was able to gain revenue from their gains in The Huffington Post and the TechCrunch acquisitions.

However Wall Street is looking for AOL to grow their core display businesses and for the company to improve their earnings. AOL’s ad sales were up 8% and display ads were up 15%. Domestic display growth saw a 14% sequential decline from last quarter’s 16% rise. AOL properties saw a 1% gain even after the two large acquisitions.

Even though AOL acquired Huffington Post and TechCrunch, the company’s website traffic barely moved. A year ago, AOL was hitting 106 million monthly unique visitors to their website. And this year, the total was only 107 million.

Michael Arrington Hires MG Siegler To CrunchFund

Amit Chowdhry — Tue, 04 Oct 2011 15:23:47 +0000

Michael Arrington has poached MG Siegler from AOL, Inc. (NYSE:AOL). Siegler was brought into AOL through the acquisition of TechCrunch, a tech blog founded by Arrington. TechCrunch was sold to AOL for roughly $25-$30 million. AOL is also an investor in CrunchFund. Siegler will become a general partner at CrunchFund. Siegler has been approached by numerous VC companies and other writing gigs since he became a top editor at TechCrunch. [Uncrunched]

Tech News Names Lash Out at Google for Poorly Handled Google+ Brands

Riley Kennysmith — Fri, 22 Jul 2011 14:55:00 +0000

Yesterday Google’s Vic Gundotra told TechCrunch that the way the company handled the Google+ brands pages was “probably a mistake.” Given the backlash Google is currently receiving for their poor handling of Google+ business accounts, it’s good to hear Google acknowledge their mistakes. Google warned Google+ users that the service is currently for real people only and that brands would be shut down, but when the culling happened yesterday, no one seemed prepared. Furthermore, a few people were extremely vocal about their displeasure with the situation. Possibly because the situation hasn’t exactly gone the way it was announced.

Accounts for Mashable and Ford were shut down and then quickly reinstated. Mashable has transferred the account into CEO Pete Cashmore’s name, despite the fact that Cashmore already had a personal account and now has two. TechCrunch created a profile for Techathew Cruncherin to wait out the months until brand profiles are allowed.

Search Engine Land’s Danny Sullivan critiques, “I’d say you’re all new to the social game and should be forgiven that you have messed up with how to handle brands here so badly. Except, you’re not new. […] You knew—had to know—this would happen.” SEL’s Google+ profile was shut down and was not reinstated when Ford and Mashable’s were.

TechCrunch’s MG Siegler expressed his displeasure with the situation in a blog entry titled Fucktarded+ yesterday.

Jason Calacanis Drops Lawsuit Against Michael Arrington [Blogger Fight]

Amit Chowdhry — Thu, 03 Mar 2011 02:53:52 +0000

Mahalo founder Jason Calacanis filed a lawsuit against TechCrunch in November 2010. Calacanis and Arrington are former partners on the TechCrunch50 events. Calacanis also wanted some proceeds from TechCrunch’s sale to AOL. One business day after Calacanis’ Launch Conference, he dropped the lawsuit against Arrington. [TechCrunch]

Good Riddance! Amazon.com Removes “The Pedophile’s Guide” Book After Much Controversy

Amit Chowdhry — Thu, 11 Nov 2010 21:05:43 +0000

Amazon.com, Inc. (NASDAQ:AMZN) has removed the book “The Pedophile’s Guide To Love & Pleasure: A Child-Lover’s Code of Conduct” from their store. Michael Arrington of TechCrunch brought attention to the book and reached out to Amazon.com for a comment. At first they defended the sale of the book, but then they backed down after a major media frenzy.

“Amazon believes it is censorship not to sell certain books simply because we or others believe their message is objectionable. Amazon does not support or promote hatred or criminal acts, however, we do support the right of every individual to make their own purchasing decisions,” was the message that they sent to TechCrunch initially. The book was listed for $4.79 and was removed late last night.

AOL Buys TechCrunch Network of Blogs [UPDATED]

Amit Chowdhry — Tue, 28 Sep 2010 16:54:57 +0000

AOL, Inc. (NYSE:AOL) has announced today that they are acquiring TechCrunch, Inc. TechCrunch operates TechCrunch.com, MobileCrunch.com, TechCrunchIT.com, MobileCrunch.com, GreenTech, TechCrunchTV, and CrunchBase.com.

AdAge.com is reporting that the deal was worth $30 million plus incentives. Michael Arrington is expected to remain at AOL/TechCrunch for up to 3 years.

Below is the full press release:

AOL TO ACQUIRE TECHCRUNCH NETWORK OF SITES

Leading Authority on Tech News Will Expand AOL’s Growing Offering of World-Class, Audience-Relevant Content

San Francisco, CA, September 28, 2010 – AOL Inc. [NYSE: AOL] today announced that it has agreed to acquire TechCrunch, Inc., the company that owns and operates TechCrunch and its network of websites dedicated to technology news, information and analysis. TechCrunch and its associated properties and conferences will join the AOL Technology Network while retaining their editorial independence, further bolstering AOL’s position as one of the world’s leading providers of high-quality, tech-oriented content. The announcement will be made on stage at TechCrunch Disrupt in San Francisco, CA.

Founded by Michael Arrington, TechCrunch operates a global network of dedicated properties from Europe to Japan, as well as vertically-oriented websites, including MobileCrunch, CrunchGear, TechCrunchIT, GreenTech, TechCrunchTV and CrunchBase. The TechMeme Leaderboard ranks TechCrunch as the No. 1 source of breaking tech news online, followed by AOL’s Engadget.*

“Michael and his colleagues have made the TechCrunch network a byword for breaking tech news and insight into the innovative world of start-ups, and their reputation for top-class journalism precisely matches AOL’s commitment to delivering the expert content critical to this audience,” said Tim Armstrong, Chairman and Chief Executive Officer of AOL. “TechCrunch and its team will be an outstanding addition to the high-quality content on the AOL Technology Network, which is now a must-buy for advertisers seeking to associate their brands with leading technology content and its audience.”

Heather Harde, Chief Executive Officer of TechCrunch, said: “TechCrunch and AOL share a motivating passion for quality technology news and information, and we’re delighted about becoming part of the AOL family. This represents a compelling opportunity to extend the TechCrunch brand while complementing the great work of sites like Engadget and Switched. Our contributors, and our audiences, can look to the future with excitement about what we can build when we have the significant resources of AOL behind us.”

Michael Arrington, Founder and Co-Editor of TechCrunch, said: “Tim Armstrong and his team have an exciting vision for the future of AOL as a global leader in creating and delivering world-class content to consumers, be it through original content creation, partnerships or acquisitions. I look forward to working with everyone at AOL as we build on our reputation for independent tech journalism and continue to set the agenda for insight, reviews and collaborative discussion about the future of the technology industry.”

TechCrunch also hosts industry-leading conferences and events, including The Disrupt series, The Crunchies Awards and various meet-ups worldwide. These conferences bring together industry innovators, entrepreneurs and financing sources to exchange ideas, forge new relationships and discuss the current and future industry trends.

“Engagement with thought leaders is as important to AOL as our engagement with our contributors, audiences, publishers and advertisers, and TechCrunch’s conferences and websites will give us a promising, additional springboard to join and amplify these conversations. We’re committed to quality in everything we do at AOL, and look forward to working with Heather, Michael and the TechCrunch team to extend the brand,” said David Eun, President of AOL Media and Studios.

The AOL Technology Network consists of AOL’s tech-oriented properties including Engadget, the Web magazine about everything new in gadgets and consumer electronics; Switched, which covers the intersection of the digital world with entertainment, sports, art, fashion and lifestyle; TUAW, the unofficial Apple weblog; and DownloadSquad, the weblog about downloadable software and other computer subjects. The AOL Technology Network ranks in the top five for tech news according to comScore Media Metrix, August 2010 data, and leads the top five in average time spent and average visits per user.

This acquisition will further AOL’s strategy to become the global leader in sourcing, creating, producing and delivering high-quality, trusted, original content to consumers. TechCrunch will remain headquartered in San Francisco, CA, as a wholly owned AOL unit. Deal terms were not disclosed.

Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding business strategies, market potential, future financial and operational performance and other matters. Such forward-looking statements include, but are not limited to, statements regarding the anticipated benefits of the transaction and other statements identified by words such as “may,” “will,” “intend,” “should,” “expect” or similar expressions. These statements are based on management’s current expectations and beliefs, and are subject to uncertainty and changes in circumstances, including, but not limited to, the satisfaction of the closing conditions to the transaction and the parties’ performance of their obligations under the agreements; changes in our plans, strategies and intentions; the competitiveness and quality of our products and services; our ability to retain, hire and develop key employees; and the intensity of competition. Any forward-looking information is not a guarantee of future performance and actual results may vary materially from those expressed or implied by the statements herein, due to changes in economic, business, competitive, technological, strategic and/or regulatory factors, as well as factors affecting AOL’s operations and businesses. More detailed information about these factors as they relate to AOL may be found in the section entitled “Risk Factors” in AOL’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission. AOL is under no obligation to, and expressly disclaims any obligation to, update or alter the forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise.

About AOL
AOL Inc. (NYSE:AOL) is a leading global Web services company with an extensive suite of brands and offerings and a substantial worldwide audience. AOL’s business spans online content, products and services that the company offers to consumers, publishers and advertisers. AOL is focused on attracting and engaging consumers and providing valuable online advertising services on both AOL’s owned and operated properties and third-party websites. In addition, AOL operates one of the largest Internet subscription access services in the United States, which serves as a valuable distribution channel for AOL’s consumer offerings.

About TechCrunch
TechCrunch is a weblog dedicated to obsessively profiling and reviewing new Internet products and companies. In addition to covering new companies, we profile existing companies that are making an impact (commercial and/or cultural) on the new web space. TechCrunch has now grown into a network of technology focused sites offering a wide range of content and new media.

*TechMeme Leaderboard, Sept. 28, 2010

[TechCrunch]

News Roundup: Facebook 400 Million and Project Titan, Location Based Apple Ads and iTunes Web Browser, Snoop Vader, Sony Profits, Snooki Crasher, WWII On Google Earth, FriendFinder Cancels IPO, TC Intern Fired, Patrick Stewart On Twitter, and Stewart vs. O’Reilly

Amit Chowdhry — Fri, 05 Feb 2010 19:27:07 +0000

Happy Friday everybody. Today is February 5, 2010 and below is the Pulse2 News Roundup. We are going to talk about Facebook, Apple, Snoop Doggy Dogg, Sony, Jersey Shore, Google Earth, FriendFinder, TechCrunch, Patrick Stewart, Jon Stewart, and Bill O’Reilly today.

Facebook 400 Million and Project Titan

Facebook is working on overhauling their message system in order to replace it with a web mailing system. The code name for the project is Project Titan [TechCrunch]. Facebook has also turned 6 years old this week and has reached the 400 million user milestone. [Mashable]

Location Based Apple Ads and iTunes Web Browser

Apple has notified App Store developers that they will be prohibited from using location based advertisements for their applications. “If your app uses location-based information primarily to enable mobile advertisers to deliver targeted ads based on a user’s location, your app will be returned to you by the App Store Review Team for modification before it can be posted to the App Store,” Apple said [MacNN]. You can now browse the App Store on the web [PCWorld].

Snoop Vader

Rapper Snoop Doggy Dogg was caught in the middle of an imperial march walking around SoHo New York. It looks like Snoop has crossed over to the dark side since he is walking right next to Darth Vader. [HuffPo]

Sony Profits

Sony announced yesterday that they have returned to profit during the last three months of 2009. As a result, the company raised their outlook. [New York Times]

Snooki Crasher

A new meme has hit the Internet thanks to Jersey Shore character Nicole “Snooki” Pilozzi. The meme is called Snooki Crasher and it features images of Snooki in places where she doesn’t belong. Below are a couple of examples. [URLesque]

World War II on Google Earth

Images of World War II destruction have been uploaded to Google Earth. The cities where the images were uploaded include Berlin, Bordeaux, Hamburg, Cologne and Dresden. [Telegraph]

FriendFinder Cancels IPO

The FriendFinder Network filed for an IPO about a month ago. The FriendFinder Network is a brand that oversees porn websites and social networks. The company was supposed to start trading this week, but they have cancelled due to “market conditions.” [AllThingsD]

TC Intern Fired

TechCrunch founder Michael Arrington apologized to his readers on behalf of an intern that accepted a MacBook as compensation for writing a blog post. The intern was fired and every blog post he wrote was deleted. “I apologize to each one of you. I promise that we will always maintain complete transparency with you on how we operate, even when it isn’t such an easy thing to do,” stated Arrington in his apology. [TechCrunch]

Patrick Stewart on Twitter

Patrick Stewart, the Star Trek Captain Jean-Luc Picard, calls his mobile phone “my beautiful iPhone.” But he doesn’t quite understand Twitter and is has a fear of getting addicted to gaming. “To reduce life to–how many? 140? Just seems to me to be a little bit simplistic. Maybe I like complexity and abstraction too much.” [HuffPo]. And if you’re a fan of Patrick Stewart, check out a project that my friend Mo Kakwan made at Yahoo! Hack Day a few years ago.

Bill O’Reilly vs. Jon Stewart

Comedy Central news host Jon Stewart was a guest on FOX host Bill O’Reilly’s TV show earlier this week. The debate between Stewart and O’Reilly attracted 4,091,000 viewers. And about 1,041,000 of those viewers were aged between 25 and 54. [BusinessInsider]