The New York Times is buying The Wirecutter, a five-year-old
online consumer guide. The Times will pay more than $30 million,
including retention bonuses and other payouts, for the startup,
according to people familiar with the transaction.
Brian Lam, a former editor at Gawker Media’s Gizmodo, founded
The Wirecutter in 2011, and has self-funded the company’s
Both sites make their money via affiliate links, which generate
revenue when consumers click on them and make purchases via
e-commerce sites like Amazon.
Sounds like a good deal for everyone involved. Lam’s success is well-deserved.