TechCrunch, the tech blog network whose proprietor Michael Arrington recently advised all other tech blogs not to raise any capital (so he could snap them up for peanuts), has hired Allen & Co. to raise $15 million on a $35-million pre-money valuation, a source hears.
Are we sure? Of course not. But this is TechCrunch we’re talking about!
Note: We have now been informed that, as usual, Kara Swisher has already reported this story. Yes, it is possible that our source “heard” it by reading it on Kara’s blog. Or maybe from a drunk at a bar. Whatever: If TechCrunch is raising a boatload of money on a big honking valuation with which to try to catch the rest of the blogosphere asleep at the switch–you heard it here first!
*UPDATE: A source close to the situation says these numbers aren’t wacko. A term sheet is reportedly on the table. Not clear when or if it will be signed. Reportedly depends on when/if TechCrunch wants to kick off its dream-team world domination plan.