ReadWriteWeb sold

Stuff reports:

Wellington technology blog, ReadWriteWeb, consistently judged one of the world’s most popular blogs, has been bought by San Francisco digital publishing company Say Media for an undisclosed sum.

Major US technology website TechCrunch, which itself was bought for US$25 million last year, is reporting the deal is worth US$5 million – about $6.6 million in New Zealand dollars.

Run by Petone’s Richard MacManus since it was started in 2003, ReadWriteWeb has a staff of just under 20, most of whom are based in the US.

MacManus said the site attracted about 5 million page views and 2.75 million unique visitors each month.
It had begun looking for a potential buyer a few months ago, as it needed more resource to grow, he said.

He planned to increase the blog’s technology coverage, including of technology hardware.

Well done to Richard McManus. This is the great thing about the Internet, that someone in NZ can be globally successful from his house in Petone.