With Michael Arrington leaving Erick Schonfeld will officially take over as editor of TechCrunch.
The job has already made him rich!
Schonfeld joined TC in 2007.
He drove a hard bargain during his hiring process and reportedly benefitted from the sale to AOL earlier this year.
Arrington’s departure could also be a big step forward for nominal TechCrunch editor Erick Schonfeld, who was named as Arrington’s successor in AOL’s statement. He’ll have to manoeuvre around Arianna, but Schonfeld is no babe in the woods: The New York based editor is rumoured to have made a savvy grab for equity when he joined TechCrunch in 2007; we heard he ended up with 5 per cent of the company, a staggering figure for a non-founder. A stake like that would have made the longtime business journalist a millionaire after TechCrunch sold for a reported $25 million – $40 million — one of a select few journalists to have become rich (arguably rich, at least) within his chosen profession.
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