AOL – You’ve Got Bought.
This morning, Verizon announced that it closed on a $4.4bn acquisition of AOL. The telecommunications giant plans to use AOL’s technology for online video marketplaces. For years, Verizon has struggled to penetrate the online video marketplace space, but now it can take advantage of AOL’s technology for selling ads and delivering high-quality Web video. Decades ago, AOL was the authority in web-based platforms, allowing users to combine email and web browsing. Now, the company is a wholly owned subsidiary, purchased to increase digital ad revenue.
When was the last time you’ve heard “You’ve Got Mail”? Tom Hanks and Meg Ryan’s 1998 romantic comedy is a distant memory – a ruin from a different time. Still, the acquisition proves that AOL has a lot of use in the modern world. While apps like Tinder and Hinge have taken over the chat room space, AOL has a lot more to offer than email services.