AOL, formerly known as America Online, is a web portal, online content producer, and Internet service provider.
AOL owns about 80 websites under various brands, including the tech blogs Engadget and Techcrunch, the financial site DailyFinance and the sports blog network Fanhouse, the tech review site gdgt, and the Huffington Post, as well as the mapping service Mapquest and Weblogs Inc., the blogging network founded by Jason Calacanis. AOL also cofounded the popular celebrity news site TMZ, though that site is now owned by Warner Brothers.
AOL was founded in 1983 and reached prominence in the 1990s as a major web portal and provider of dial-up Internet service.
In 2000, AOL merged with Time Warner in the largest merger in American business history. The merger ultimately failed, and AOL spun off from Time Warner to become an independent company again in December 2009.
AOL’s traditional business of dial-up Internet service has declined over the past decade, and its traffic as a web portal has decreased, as well. It has fewer than a quarter of the 20,000-plus employees it had in 2004. Its web traffic still remains strong as compared to traditional news organizations, although its dial-up business still drives most of the company’s profit. In 2012, it sold more than 800 of its patents to Microsoft for about $1 billion.
AOL bought the social network Bebo in 2008 for $850 million and sold it two years later for less than $10 million. In 2013, it also bought the web video company Adap.TV for $405 million and launched a subscription-bundling service called Gathr. It bought the personalization company Gravity the following year.
As part of a spinoff from Time Warner, AOL began a push toward original content in 2009 and rebranded itself as “Aol.” later that year.