AngelList Buys Product Hunt for Around $20 Million

Thanks to its Reddit-like system for surfacing news, Product Hunt has become one of the most important ways for tech startups to get noticed in Silicon Valley.
AngelList Buys Product Hunt for Around $20 Million
Image credit: Steve Jennings/Getty Images
Product Hunt founder Ryan Hoover.

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Tech Reporter for Business Insider
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This story originally appeared on Business Insider

a 3-year-old website that helps techies discover new products and startups, has been acquired by AngelList.

Product Hunt founder Ryan Hoover and 13-person team will operate independently from AngelList, which helps startups with recruiting and fundraising. AngelList was an early investor in Product Hunt and paid around $20 million for the acquisition, according to Recode.

Thanks to its -like system for surfacing news, Product Hunt has become one of the most important ways for to get noticed in . Its prominence has made Hoover an influential figure in the tech industry.

Last month, Hoover told  that Product Hunt was preparing to launch its first revenue-generating product in the first quarter of 2017.

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