AOL Fills Relevance Gap With TechCrunch, Social Media

AOL Inc., the once-dominant Internet service provider that saw its market value and user base dwindle over a decade, may restore lost relevance after yesterday’s purchase of TechCrunch Inc. and two other startups.

Chief Executive Officer Tim Armstrong appeared on stage during a tech industry conference in San Francisco to announce the purchase of TechCrunch, an influential news blog and the host of the event. AOL paid about $25 million, according to two people familiar with the matter, who asked not to be identified because the terms weren’t made public. The company also bought 5min Media, a network of online videos, and Thing Labs Inc., a creator of social-networking tools.