Note from the CEO: Oh boy, an acquisition. Love it when people combine and make lots of money too. The bigger the better, right? And, AFTER being acquired, the firm being bought will launch its first revenue-generating product. Pay me now, figure out revenue later.
Product Hunt will be acquired by AngelList for $20 million and continue to operate independently. AngelList invested early in Product Hunt so they know them and their 13 person team well which should make all go smoothly.
“Product Hunt, a 3-year-old website that helps techies discover new products and startups, has been acquired by AngelList.
Product Hunt founder Ryan Hoover and 13-person team will operate independently from AngelList, which helps startups with recruiting and fundraising. AngelList was an early investor in Product Hunt and paid around $20 million for the acquisition, according to Recode.
Thanks to its Reddit-like system for surfacing news, Product Hunt has become one of the most important ways for tech startups to get noticed in Silicon Valley. Its prominence has made Hoover an influential figure in the tech industry.”