Only fast-paced hi-tech industry can produce such drama: TechCrunch just reported its own acquisition, together with the parent company AOL, by Verizon. Verizon will buy AOL for $4.4 Billion. However, it is still unclear what Verizon is going to do with AOL’s different activities, including TechCrunch. As TechCrunch writer and editor Ingrid Lunden wrote
There are lingering questions about whether it’s an all-in deal for the longer term, or whether certain operations that are not as central to Verizon’s bigger strategy may eventually get offloaded.
Reading this, I could not help remembering what happened with the successful tech blog Gigaom just a couple of months ago. Back then, Gigaom publisher fired all of its employees in quite a surprising announcement. In that case, it turned out financial debts were accumulating quietly. The drama was big, from the first dripping tweets to the following network flood, with rumors, guesses, protests, bits shared by Gigaom employees, best wishes by the community members, and one touching statement by Gigaom founder Om Malik, confessing
It is not how you want the story of a company you founded to end.
But beyond the financial details and drama, the bigger picture is that the websites and blogs serve as a vital voice for the tech community, and a place for the community to get together, both virtually and physically in their impressive conferences. We need these channels up, running, quality and objective.
Good Luck to all TechCrunch team!
Read the TechCrunch coverage of the acquisition here.