Hammer time as AOL nails TechCrunch
Mike Arrington and Stanley Burrell together at last
Regcast training : Hyper-V 3.0, VM high availability and disaster recovery
What do you get when you cross MC Hammer with an injured and badly limping internet giant?
Well according to TechCruch’s Michael Arrington, whose website has just been bought by AOL, the answer is “awesomeness in a bottle.”
The web outfit, under CEO Tim Armstrong, went on a big spending spree yesterday. It scooped up no less than three dotcom firms in a clear shift away from AOL’s ailing subscriber base.
AOL kept terms of the TechCrunch deal secret, but reports have suggested that Armstrong’s company paid around $25m for the site, which was founded by Arrington.
“Engagement with thought leaders is as important to AOL as our engagement with our contributors, audiences, publishers and advertisers, and TechCrunch’s conferences and websites will give us a promising, additional springboard to join and amplify these conversations,” said AOL media president David Eun.
Additionally AOL bought online video network 5min Media and social network tools start-up Thing Labs Inc yesterday.
But the company didn’t just splash cash on Tuesday, as it also said it would imminently kill its news aggregator Propeller.com.
The shutters will come down on that particular venture on 1 October, said AOL. Earlier this year Armstrong let go of loss-making social network site Bebo and sold AOL's ICQ instant messaging service.
As for MC Hammer, he turned up at the TechCrunch after party for a bit of a boogie with Arrington and 2,000 other lucky souls. ®
COMMENTS
AOL money to waste
Great for Ego Tech Blogger Michael Arrington
Not sure what this does for AOL shareholders.
Maybe after a year they will close it or sell it to some other sucker.
Has to be done
<- Hammer time
Sorry.
Yes, that's my coat, thank you.
Being bought by AOL
...seems to be the Kiss Of Death for any company. The only thing that seems to be awesome is how fast AOL companys lose money and circle the drain.
IT infrastructure monitoring strategies
Agentless Backup is Not a Myth
Top 10 SIEM implementer’s checklist
Steps to Take Before Choosing a Business Continuity Partner
Enabling efficient data center monitoring
