Monday Deal: The New York Times purchased the product reviews site The Wirecutter and its sister site The Sweethome in a deal worth more than $30 million.
- Founding and Focus: Wirecutter was founded in 2012 as a modern answer to Consumer Reports focusing on consumer electronics. Ars has syndicated its reviews and some alumni work there, like Casey Johnston and Jacqui Cheng who is now editor-in-chief.
- Business Model: Relies on affiliates, getting a cut from sales generated by reviews.
- Company Statements: Mark Thompson, president and CEO of The New York Times Company, said they were excited about the acquisition. It's a well-run business with an attractive revenue model based on service journalism.
- Future Plans: Wirecutter founder Brian Lam will stay in an advisory role and Cheng is expected to stay in her position. Lam wrote that they are joining to do better with the support of the greatest home to journalism.
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