San Francisco based AngelList had just bought also San Francisco based Product Hunt. Product Hunt is an online platform where users can up or down-vote startup products.
Product Hunt declined to comment on the selling price but a source close to the matter tells us it was about $20 million. Recode first reported that same price. Product Hunt was rumored to be raising its next round for the past several months but, as founder Ryan Hoover tells TechCrunch, AngelList seemed like the best option for the future of the company and now the two are combining forces. Hoover and AngelList’s Naval Ravikant, who invested in Product Hunt previously, met shortly after Hoover launched his platform but the PH founder says he had some initial concern AngelList could potentially move into the same consumer-focused product discovery platform he’d built on Product Hunt.