Google sells their stake in AOL for just $283 million
July 28th, 2009 Leave a comment Visited 54 times, 1 so far today
Google sells their stake in AOL for just $283 million
Google has accepted that they made a very bad deal by investing in AOL a couple of years ago.
Google had acquired 5% stake in AOL for around USD 1 billion.
They have now sold the same stake in the company for just around $283 million.
This means the deal caused Google a loss of $717 Million plus interest!
Google gained little from the deal. They continued to remain the engine powering AOL search… AOL was the main benefactor.
AOL has been struggling for the past couple of years. They are now close to getting detached from the parent company Time Warner.
Google’s stake sale puts AOL value at just around USD 5.7 billion!
AOL, aol search, bad investments, Google, Search, Search Engine, Search Engine News, Time Warner, Web Services
Manuj Kumar
Category: Uncategorized
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