AOL Confirms SocialThing Acquisition
While not yet complete, AOL has confirmed that they will acquire SocialThing. The FriendFeed competitor is still in private beta.
No word on the price for the acquisition, but expect it to be small. Still, AOL seems to be going after the social media world, having recently acquired social network Bebo for $850 million.
Bebo has 40 million users, doubling AOL’s media reach via the acquisition.
The push towards social media is likely part of a larger re-focus of AOL’s business model around advertising. AOL parent company Time Warner recently confirmed that AOL will be split into two businesses: internet access and media/advertising.
via The Social
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