Yahoo separates from TechCrunch

TechCrunch is getting a new owner. Yahoo has signed an agreement to sell the technology news portal to the California-based private equity company Regent. This was announced by both companies last Friday. Financial details of the transaction, which is expected to close in the coming weeks, were not disclosed.

TechCrunch was founded in 2005. The popular online platform has been reporting on the tech business, start-ups, venture capital funding and Silicon Valley for twenty years. Since its acquisition by AOL in 2010, TechCrunch has undergone many changes of ownership. In 2015, the US telecommunications group Verizon Communications acquired AOL and two years later Yahoo. Verizon merged TechCrunch, Engadget, Yahoo Sports and other websites into a new division called Oath, which later became Verizon Media. In 2021, Verizon sold its media division for five billion US dollars to US investor Apollo Global Management, which renamed it Yahoo again.

Regent makes a big purchase

For its part, private equity firm Regent has been actively expanding its portfolio of tech news sites and last week acquired TechCrunch as well as Foundry, the parent company of leading publications such as PCWorld, Macworld, InfoWorld, CIO and TechAdvisor.

"We are delighted to add TechCrunch and Foundry to our portfolio," the company writes. "TechCrunch has been the number one destination for all things startup-related since its inception in 2005, and we are thrilled to expand its reach as it delivers groundbreaking technology news, opinion and analysis on tech companies worldwide to our audience."

Yahoo retains small stake

Yahoo decided to sell TechCrunch "simply because our DNA is different from the rest of the portfolio," TechCrunch editor-in-chief Connie Loizos is quoted as saying by tech portal The Verge. Yahoo will therefore continue to hold a small stake in TechCrunch.

"We believe this next chapter under Regent can help preserve TechCrunch's influence and support its continued growth," Yahoo said in a statement. It said it looked forward to continuing to work with Regent and TechCrunch based on a long-term partnership "focused on expanding audience reach, fostering the development of innovative content and creating shared financial growth". Yahoo continues to operate a number of news sites, including Yahoo Finance, Yahoo Sports and the tech portal Engadget, as well as services such as Yahoo Mail and Yahoo Search.

(akn)