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Google to Buy 5% Of AOL for $1 Billion
By Larry Hendrick | December 17, 2005
I must admit I am not sure about this strategy. AOL is losing 1 million customers each year, and Google is investing 1 Billion dollars in it. I know they’re wanting to have the advertising dollars, but still…
Google to Buy 5% Of AOL for $1 Billion
Google Inc. is buying a 5 percent stake in Dulles-based America Online Inc. for $1 billion as part of a far-reaching business and advertising partnership aimed at boosting AOL’s financial prospects as the Internet service struggles with the loss of millions of subscribers.
The five-year deal gives AOL new life by offering it numerous ways to garner more of the billions of dollars being spent on Internet advertising. It also deepens AOL’s relationship with Google, the leading gateway to Internet sites for millions of computer users.
Topics: Business |