TechCrunch was WAY more popular that ProductHunt ever will be, was in a different and more frothy media landscape, had a very real and lucrative sub-business called the TC Disrupt conference (which I hear accounted for something like 75% of TechCrunch profits at the time) and still was acquired for only about $25-40MM, depending on who you ask.

Which makes this PH acquisition even more of a head scratcher.