Michael Arrington, one of the most important faces behind the popular image of the technology site Tech Crunch is starting a new venture capital fund in order to make investments in start-ups, according to latest reports.
With this latest development, it should have been almost mandatory for Arrington to part his ways with Tech Crunch which was acquired by AOL for $30 million last year.
Just like most of the other media & news houses, AOL also has this strict policy of not allowing its reporting staff to invest on businesses they cover. But AOL, quite surprisingly decided to keep Arrington untouched by these rules. He, however, will take a break from his active editing duties and instead will focus on more behind-the-scene roles such as hiring new managing editors etc.
Also, it is almost confirmed that Arrington will keep on reporting to Arianna Huffington, the chief of AOL’s all media properties.
“TechCrunch is a different property and they have different standards,” Tim Armstrong, chief executive of AOL, said in an interview, The New York Times reports.
“We have a traditional understanding of journalism with the exception of TechCrunch, which is different but is transparent about it,” he added. [Image courtesy Wikipedia]