The company announced today that it has been acquired by the investment syndication platform AngelList and said that a majority of Product Hunt s 14 employees will be kept on.Financial terms were not disclosed, but Product Hunt chief executive Ryan Hoover said he s happy with the price and that it s enough for him to buy at least one case of La Croix.
Hoover sought to reassure users that everything about the site will remain the same, equating the deal to when Facebook purchased Instagram in 2012.
The Product Hunt brand, name, site, and community will remain intact, he said, adding that the company will continue with the roadmap we have now, but over time, Product Hunt and AngelList will find ways to achieve our mutual goals.
At the same time, he believes that the combined companies will be a more powerful and useful resource for the ecosystem, makers, and users.It may surprise some that Product Hunt was acquired by AngelList.
Hoover admitted that he has entertained acquisition talks in the past but said he ultimately decided against them because there wasn t an obvious alignment between Product Hunt and the potential suitor.Since its launch three years ago, Product Hunt has been a place for people to gather and list products they feel are exceptional.
Along the way, Hoover met up with AngelList chief executive Naval Ravikant, and the two eventually came to the conclusion that their services were appealing to the same audiences, just with a different focus.