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The New York Times Is Buying the Wirecutter for More Than $30 Million

Peter Kafka, reporting for Recode:

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 growth. […]

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.

Monday, 24 October 2016