In 2005, when Silicon Valley entrepreneur Michael Arrington started TechCrunch, his popular blog on Internet startups, he saw it mainly as a chance to indulge his obsession with young technology companies.
But it turned out that Arrington had latched onto something big. TechCrunch became the go-to site for the scoop on new Web companies. And, as technophiles flocked to TechCrunch, advertisers followed suit. Arrington's blog morphed from a labor of love into a fast-growing business.
Today, TechCrunch has a full-time staff of eight. This year, it hired a CEO. In August, 1.25 million people visited TechCrunch or its affiliated blogs at least once, according to comScore Inc. It brings in $240,000 per month in advertising, according to Arrington, and pulls in additional revenue from conferences and parties. Most important of all, TechCrunch is in the black.