AOL Purchases Startup Going Inc.
June 12, 2009 by Stephen Kersey
Filed under Business
AOL, which is splitting from Tim Warner Inc., recently announced that it has acquired Going Inc. — a startup company based in Boston. While no financial information was released about the transaction, industry rumors indicate that the price tag was likely less than $10 million.
Going offers a lot of what AOL is looking for as they recreate their business model. Available in 30 of the biggest cities in the United States, Going provides local information in a Web 2.0 format. There are also social networking elements and tools for local promoters who want to get the word out about an event.
Considering that Tim Armstrong, the new CEO for AOL, has said that he wants to focus on localized information in the new AOL, acquiring Going makes a lot of sense. It’ll be interesting to see what AOL does to try to reclaim their spot near the top of the online heap.
AOL Logo (Image: Flickr)
