TechCrunch Raising $15M

After railing against blogs seeking to raise millions in funding and recalling the Halcyon days of sweat-shop labor, Michael Arrington, the main barker behind TechCrunch, seems to be trying to hit up VCs for $15 million. Although he’s not talking, two reports say Arrington has hired investment bankers Allen & Co.

The news would give TechCrunch a $35 million valuation, according to Silicon Alley Insider. Wednesday, Arrington wrote SAI was trying to raise $3-$5 million, a report former Wall Street analyst and now SAI blogger Henry Blodget forcefully denied.

Kara Swisher, who blogs at the Wall Street Journal’s All Things Digital, said “several people” told her about the new call for TechCrunch financing.

Arrington, who has repeatedly denied TechCrunch is for sale and rebuffs any attempts to put a value on the blog, was uncharacteristically mum.

Yesterday, while reporting on Arrington’s wish for a blogging “Dream Team” that could knock CNET out of the game, we concluded that the move was an attempt to save some of the shrinking Web 2.0 VC cash for TechCrunch. Looks like we were right.