The New York Times is buying The Wirecutter for $30 million:
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.
The Wirecutter provides recommendations for electronics and other gadgets that are both obsessively researched and simply presented. The Wirecutter also owns The Sweethome, which takes the same approach for home appliances and other gear.
I’ve been a fan of The Wirecutter for a few years now. I think of them as a Consumer Reports for gadgets, although the range of products they review is pretty wide. I dig how they usually have only one recommendation for a product category (and a few runners up).
They do the best job of any site I’ve ever seen of answering the question, “I need a [product category]. Which [product category] should I buy?”
Just last week I went to their site for a recommendation on a surge protector.