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 | |
| Formerly |
|
|---|---|
| Company type | Subsidiary |
| NYSE: AOL | |
| Founded |
|
| Founders | |
| Headquarters | 770 Broadway, New York City , United States |
Area served | Worldwide |
| Services | Web portal and online services |
Number of employees | 5,600 |
| Parent |
|
| Website | aol |
AOL (stylized as Aol., formerly a company known as AOL Inc. and originally known as America Online[1]) is an American web portal and online service provider based in New York City. It is a brand marketed by Yahoo! Inc.
The service traces its history to an online service known as PlayNET. PlayNET licensed its software to Quantum Link (Q-Link), that went online in November 1985. A new IBM PC client was launched in 1988, and eventually renamed as America Online in 1989. AOL grew to become the largest online service, displacing established players like CompuServe and The Source. By 1995, AOL had about three million active users.[2]
AOL was one of the early pioneers of the Internet in the 1990s and was (at one point) the most recognized brand on the web in the United States. AOL once provided a dial-up internet service to millions of Americans and pioneered instant messaging and chat rooms with AOL Instant Messenger (AIM). In 1998, AOL purchased Netscape for US$4.2 billion. By 2000, AOL was providing internet service to over 20 million consumers, dominating the market of internet service providers (ISPs).[3] In 2001, at the height of its popularity, it purchased the media conglomerate Time Warner in the largest merger in US history. AOL rapidly shrank thereafter, partly due to the decline of dial-up and rise of broadband.[4] AOL was eventually spun off from Time Warner in 2009, with Tim Armstrong appointed the new CEO. Under his leadership, the company invested in media brands and advertising technologies.
On June 23, 2015, AOL was acquired by Verizon Communications for $4.4 billion.[5][6] On May 3, 2021, Verizon announced it would sell Yahoo and AOL to private equity firm Apollo Global Management for $5 billion.[7] On September 1, 2021, AOL became part of the new Yahoo! Inc.
- ^ Hosch, William L.; Tikkanen, Amy (November 18, 2021). "AOL". Encyclopædia Britannica. Retrieved May 2, 2023.
- ^ Nollinger, Matt (September 1, 1995). "America, Online!". Wired. Archived from the original on October 22, 2018. Retrieved October 25, 2018.
- ^ Bule, Guise (March 31, 2020). "A Short History Of The Internet". ITSEC. Retrieved January 21, 2024.
- ^ Lever, Rob (May 12, 2015). "Verizon buys faded Internet pioneer AOL for $4.4 bn". Business Insider. Archived from the original on June 27, 2018.
- ^ Imbert, Fred (May 12, 2015). "Verizon to buy AOL for $4.4B; AOL shares soar". CNBC. Retrieved May 12, 2015.
- ^ Sawers, Paul (June 23, 2015). "Verizon completes $4.4B acquisition of AOL". VentureBeat. Retrieved June 23, 2015.
- ^ Valinsky, Jordan (May 3, 2021). "Verizon offloads Yahoo and AOL in $5 billion deal". CNN. Retrieved May 3, 2021.
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