TechCrunch founder quits venture fund publication

Michael Arrington resigned as editor of the tech blog TechCrunch (one of the most popular sources for news on Habré). He will lead a venture capital fund with a capital of $ 20 million managed by the parent company AOL and other venture capital firms.

Arrington “will continue to write for TechCrunch, but will not have any control over the editors,” AOL spokesman told The Wall Street Journal. Eric Schonfeld, who was the co-editor of TechCrunch, will be the interim editor until a replacement is found.

Arrington’s new fund, called CrunchFund, will receive investments from Accel Partners, Kleiner Perkins Caufield & Byers, Austin Ventures, Redpoint Ventures, Greylock Partners and Sequoia Capital.

When AOL boughtTechCrunch in 2010, Arrington said he would remain on the blog for at least three years.

via Mashable