The New York Times Company has acquired The Wirecutter and The Sweethome. Both are product-recommendation services that serve as guides to technology gear and other consumer services.
The Wirecutter was founded in 2011 by technology journalist Brian Lam, who worked as an editor at both Gizmodo. The sites generate revenue through affiliates.
“It’s an impressively run business with a very attractive revenue model and its success is built on the foundation of great, rigorously reported service journalism,” said Mark Thompson, president and CEO of The New York Times Company. “The practical approach that The Wirecutter and The Sweethome take to product recommendations embodies the same standards and values that are the pillars of our own newsroom.”
Following the acquisition, Lam will stay on in an advisory role. Ben French, vice president of NYT Beta, will serve as interim general manager and will work to integrate The Wirecutter and The Sweethome into The Times Company.
“The New York Times is the perfect home for The Wirecutter because of our shared love and commitment to reader service and public good through rigorous reporting,” said Lam. “And most important, we’re thrilled to have the chance to help Times readers find great gear that can improve their lives.”
The transaction was all-cash. The deal might have been north of $30 million, according to Recode.