At the risk of not only beating a dead horse, but cremating it with self-reflective posts, this video is too good not to post. Jonathan Mann, our favorite singer/songwriter is back with a song about what else: the end of TechCrunch.
As we begin this new era, it’s a fitting tribute to the old one. TechCrunch is dead, long live TechCrunch. → Read More
This is a post I never thought I’d have to write. Unfortunately, I do. And the worst part about it is that it should be Michael Arrington writing this post, not me.
But he can’t.
TechCrunch is on the precipice. As soon as tomorrow, Mike may be thrown out of the company he founded. Or he may not. No one knows. And if he is, he will be replaced by — well, again, no one knows. No one knows much of anything. Certainly no one at TechCrunch. This site is about to change forever and we’re in the total fucking dark. I’ve been able to piece together little bits of information here and there, and it’s not looking good. Hence, this post. → Read More
Our parent company AOL is having a rough time making money from Patch, its rapidly expanding network of local news sites, and that’s not its only problem. Today, group buying website BuyWithMe announced that it has recruited Charlie Gray, formerly Executive Vice President at Patch, as its new ‘Chief People Officer’.
BuyWithMe, which rivals the likes of Groupon and LivingSocial in the United States, says Gray will help manage the company’s growth plans, and to hire, train and retain talent throughout the country. → Read More
AOL (which, in case you didn’t know, has been the owner of TechCrunch for almost a year now) has announced that its board of directors has given the green light for a stock repurchase program that will allow the company to buy back up to $250 million of its outstanding shares of common stock from time to time over the next 12 months.
The move comes after AOL’s stock took a gigantic nosedive following the reporting of its second-quarter results. → Read More
Internet access, content and online advertising company AOL (which also owns TechCrunch) this morning reported its earnings for the second quarter of the year.
AOL reported a net loss of $11.8 million, compared with a year-ago loss of a little over $1 billion, which had included a major goodwill impairment charge and higher restructuring costs.
Total revenue came in at $542.2 million, down 8 percent compared to Q2 2010. Subscription revenue took another – albeit expected – hit with a 23 percent decrease. → Read More
I’ve said this before, but working at AOL is my first experience working at a “big” company. I’ve watched, mostly with amusement, as a Dilbert cartoon has come to life around me. Some of the policies and bureaucracy are useful (I’ll think of some examples, just give me a second).
Some are hilarious (forced drinking events). Some are really annoying. For example, every couple of weeks I get an email titled “AOL Standards of Business Conduct Training” with the demand “As a new employee, you are required to complete one hour of web-based training on the Standards of Business Conduct (SBCs).” The only problem is that I need to have access to the AOL network to complete the training, and they’ve never given me access so that there’s an information barrier between me and the company.
But there’s one weird policy that really stands out. AOL is absolutely crazed about questioning employee expenses. Our CEO Heather Harde deals with the brunt of the pain involved in getting expenses approved. But I’ve dealt with my fair share, too. → Read More
The dream of a personalized magazine tuned just for you keeps showing itself on the iPad. Today’s edition comes from AOL Editions, which is finally coming out after much fine-tuning and a silly video. (Disclosure: TechCrunch is also owned by AOL). Editions assembles a digital magazine for you once a day from a variety of online news sources and blogs—The Atlantic, Businessweek, CNNMoney, Forbes, TechCrunch, Cnet, Business Insider, Wired. It is trying to stake a position somewhere between The Daily’s all-original (and expensive) reporting and Flipboard‘s endless pages of prettified RSS feeds and social streams.
AOL Editions is designed to be completed in one sitting. It pulls in 30 to 50 stories across different sections like Top News, Technology, Business, Entertainment, Sports, Local News, and Travel. You pick the sections you want, enter your zipcode, and it does the rest. You can further train the app each time you read an article by tapping on sources and topics you want to follow or hide. The app pulls out a few main topic tags associated with each story for which you can effectively give a thumbs up or down by tapping on a check mark or an X. The next editions will show more stories from those sources or on those topics. You also can add blogs or news sources via a search box on each section start page as well (but only from sources without paywalls, no New York Times articles appear, for instance). → Read More
Two years ago, Tim Armstrong replaced the ad chief he inherited, Greg Coleman, with one of his former Google lieutenants, Jeff Levick. The musical chairs still has not stopped. In a memo sent out to employees today (see below), Armstrong announced that Levick wil be stepping down, to be replaced by another trusted lieutenant, Ned Brody, who will take the new position of Chief Revenue Officer and President of AOL Advertising. He was previously COO of the media, advertising, and commerce group, as well as the president of AOL’s Paid Services group before taking over the Advertising.com group.
Most of the shakeup is happening in the sales organization, which is getting five new SVPs under Brody, who is charged with delivering consistent growth in advertising revenues and pushing AOL’s premium ad products such as Project Devil. Last quarter, total advertising revenues were still declining by 11 percent, although there was a ray of hope in that display advertising saw a 4 percent jump. Brody needs to keep growing the advertising business before older revenue streams dry up. → Read More
Back in March, we noted that the mobile-first group inside of AOL was pushing forward with a pretty nice new music app called “Play”. The timing was good, they released it just as SXSW was kicking off. Unfortunately, it was Android-only — meaning myself and millions of others were unlikely to use it and instead would favor something like rival Soundtracking. Well, tomorrow Play is finally coming for iPhone.
As far as I can tell, Play for iPhone looks great. But “looks“ is the keyword. I haven’t actually used the app myself. Instead, I’ve only seen it because AOL decided to pitch it to me over Instagram. Yes, knowing my no-email stance, AOL smartly found me on another network I’m always on and highly engaged with. Well played — and smart. AOL has been pitching their app as a sort of “Instagram for music”. And that seems to be working for them so far. → Read More
AOL CEO Tim Armstrong likes to streamline things. And he is about to streamline AOL even more. Somewhat reversing the anti-portal strategy he inherited, he will start to consolidate 53 different content brands into 20 “power brands.” (Don’t worry, TechCrunch is still one of them).
“More and more stuff is moving towards well-known brands,” says Armstrong. “Unless human nature is going to totally change, the Internet is going to end up in a branded environment.” → Read More
Over three years ago, we reported that AOL had acquired the New Jersey-based fantasy sports site Fleaflicker. It seemed like a touchdown for 26-year-old founder Ori Schwartz. Now it’s looking more like a touchdown that was just called back.
AOL has alerted members of the service today that Schwartz has bought back Fleaflicker. As of July 22, AOL will no longer be in control of the site which has dwindled under the control of our parent company. “While we love Fleaflicker (and our users love Fleaflicker), we wanted to find a home for the product where it can receive more love and attention,” is the subtle middle finger in their FAQ. → Read More
Zoopla, the real estate startup, has signed an “exclusive deal” to power the property search feature of AOL in the UK, which is now live.
Interestingly, Zoopla already has existing partnerships with AOL competitors MSN, Yahoo and Sky, in addition to the likes of Homes24 and UpMyStreet. → Read More
This is amazing. Earlier today Yahoo launched Android music app that happened to have the exact same name as the Android music app launched by AOL four months ago, “Play.”
Yes, Yahoo and AOL now both have music apps with the same name. And instead of laughing it off internally, AOL responded to the launch with this “Yapoo!” parody video. In a rare moment of badassery AOL is basically calling out the Yahoo Mobile Team for not being very creative. → Read More
AOL’s advertising platforms, which are grouped under the Advertising.com business, is now a $500 million business, the company revealed today at its Investor Day in New York City. The Advertising.com Group is a new business unit inside AOL, which includes six separate products: The Advertising.com ad-serving network (which AOl acquired in 2004) and AdTech, along with more recent acquisitions 5Min (now AOL Video), Pictela, GoViral, and the internally built Seed product. (AOL also owns TechCrunch, but we are part of the Huffington Post Media Group).
All of that, all together is a $500 million business, which is about a quarter of AOL’s total revenue. And it’s clear that AOL thinks it can become a $1 billion business. Today was the first time AOL broke out these numbers. → Read More
TechCrunch editor Michael Arrington took the stage today to interview AOL CEO Tim Armstrong. It was actually at TechCrunch Disrupt New York last year where Armstrong first approached Arrington about buying TechCrunch. We all know how that worked out.
Armstrong and Arrington touched on a variety of subjects, including AOL’s agressive content strategy. While AOL’s content has remained free, Armstrong does seem to think that a paid content model can work. “It’s a matter of how you do it…but I’m a long term believer in paid content as a strategy.” As he cautions, AOL’s news content doesn’t have a price right now, and Armstrong didn’t reveal any future plans for a paywall but it’s certainly interesting to see that he isn’t totally against the strategy. → Read More
My boss, Michael Arrington, sat down with his boss (and my boss as well), Arianna Huffington for a brief chat at TechCrunch Disrupt, where Huffington revealed that she tried to ‘merge’ the Huffington Post with TechCrunch before AOL bought us last September.
Of course, now we are all one big happy family now that AOL also scooped up The Huffington Post for $315 million, and we are both now part of the Huffington Post Media Group, too. → Read More
In its last earnings report, AOL revealed that it poured $40 million into its hyperlocal news platform Patch in the quarter. It’s no secret that AOL, Arianna Huffington and CEO Tim Armstrong have high hopes for Patch. And today, the company is announcing that that Patch will launch 33 new sites in New Hampshire, Iowa, and South Carolina —the first three states to hold primaries in 2012. In addition, Patch has announced the launch of the first Patch Military site: Camp Pendleton Patch.
The 33 new primary state sites aims to provide a platform for citizens, candidates, and influencers to discuss local issues and events, including the impact of national and state issues on the local landscape heading into the 2012 election season. Patch’s journalists will cover issues on the sites and the hyperlocal news sites will also aim to serve as a non-partisan forum. → Read More
Earlier today, AOL’s Head of AIM Products Jason Shellen sent an email to the entire company urging people not to share its contents with people outside of the company. Even though we’re a part of AOL, we didn’t get that email. Well, that is until someone was kind enough to leak it to us. Hey, we are not outside of the company so that’s fair right? And since we didn’t technically get the email, I have no problem sharing it.
Anyway.
AOL is on the verge of launching a “shiny new video chat product dubbed ‘AV’”. And it actually looks pretty good. It’s video chat, but super-simple. You don’t need an account to use it. You don’t need anything (besides, sadly, Flash installed on your computer). You hit the homepage, start a chat, get a link, and send that to friends. Up to four people can chat at once. → Read More
AOL CEO Tim Armstrong is betting on the devil. Project Devil, that is. Those are the ad units on AOL properties (including TechCrunch), and now on Hearst sites as well, that take up all the ad spots with one campaign. Instead of 14 different ads on a page, the same space if all given to one advertiser. They are designed to be more engaging as well via the addition of maps, videos, and other interactive elements. In today’s first quarter earnings call, Armstrong told analysts: “On every single benchmark, Devil Ads perform better.”
He then broke down some stats: compared to “industry benchmarks” (i.e. run-of-the-mill display ads), AOL is seeing 6.4X the engagement rate with Project Devil ads than standard ones (10 percent versus 1.5 percent engagement), 1.9X the click-through rate, and 3.4X the time spent with the ads for those people who do engage (47 seconds versus 14 seconds). Project Devil video ads are played twice as much as other video ads. → Read More
Our parent company AOL has just released its quarterly earnings for Q1 2011, and it’s a mixed bag (again).
Revenue came in at $551.4 million, which is better than most analysts had anticipated – the company was expected to earn $0.17 per share on revenues of $536.35 million. Actual earnings came in at $0.04 per share, down 86 percent. → Read More
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