Yahoo has sold the iconic technology site TechCrunch

Dmytro Kazantsev - 24 March, 07:02 PM

TechCrunch, a twenty-year-old technology website, is being acquired by media investment company Regent.

As TechCrunch reported, on March 21, Yahoo officially announced the sale of the publication due to the fact that journalism is not the company's core business.

"Yahoo decided to sell TechCrunch because, in the end, our DNA is simply different from the rest of its portfolio," said the publication's editor-in-chief, Connie Loizos.

Regent, on the other hand, is trying to build a portfolio of technology news sites and is ready to invest in them. In a statement, the company said it was “excited to expand its reach.” Regent previously acquired Foundry, which publishes a number of online tech magazines such as PCWorld, Macworld and TechAdvisor. Yahoo said it would continue to work with Regent and TechCrunch, but it will retain a small stake and the TechCrunch transition will be structured to minimize disruption to the news resource. Financial terms of the deal were not disclosed, but since it is valued at less than $100 million, it does not require regulatory approval.

Michael Arrington, founder of the iconic website TechCrunch

Recall that TechCrunch was founded by Michael Arrington and Keith Thier in 2005. In 2011, Michael Arrington left the project's management team. TechCrunch is one of the most influential technology media resources in Silicon Valley. The publication writes about startups, online businesses, innovations, and websites. TechCrunch was one of the first media outlets to start providing data as a service. In 2007, the company created Crunchbase, a database of startup financing, which it managed until 2015. In addition, the project has a series of thematic conferences. The site has gone through many changes in ownership since AOL acquired it in 2010. When Verizon acquired AOL in 2015 and Yahoo in 2017, the company merged TechCrunch, Engadget, Yahoo Sports, and other sites into a new division called Oath, which later became Verizon Media. In 2021, Verizon sold its media division to Apollo Global Management for $5 billion.