"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Monday, August 14, 2006

AOL open their chequebook. Again.

Troubled AOL has been busy building its facilities this year by buying in companies to expand the web resources for users in 3 deals, in which they have acquired leading edge web technology in personal communications , web advertising and video search , all for "undisclosed sums".

Michael Jones, Nate Thelen and Javier Hall the 3 founders (in 2001) of Userplane (12 employees) were about to sign up serious funding from a Venture Capital outfit and met AOL’s CEO, Jon Miller - the result , AOL have taken them over. Expect to see an abundance of new features and innovation as a result they say..Good WAPO article on technical implications of deal here

Userplane has licensed its chat technology to more than 100,000 Web sites and online communities, including MySpace.com, Date.com, Honda, Red Bull and Marvel Comics and curently has a presence in 25 countries.

This follows the acquisition by AOL of Washington based Lightningcast in May (34 employees)who pioneered software for delivering advertising into on-demand, live, and downloaded video content across the web.AOL have been customers since 2002 using Lightningcast's platform, first for audio (AOL Radio) and later for video streaming advertisements (AOL Video) - partnering broaadband network, "In2TV", from AOL and Warner Bros. They will continue to operate as a part of AOL subsidiary Advertising.com

AOL also acquired video search engine Truveo (Based in Burlinghame CA) in December last year. Founded only January 2004 with angel finance by CEO Dr. Tim Tuttle and CTO Dr. Adam Beguelin it launched its video search engine technology in September 2005 utilizes a proprietary web crawling technology they call "Visual Crawling". A unique technology ythet they claim has enabled Truveo to build the most comprehensive index of high-quality, current video on the web..

This adds to the AOL Video Search in June 2005 which was largely based on the acquisition of Seattle-based Singingfish in November 2003.

"The next few years will see a dramatic increase in the amount of video available on the web," said Dr. Tim Tuttle - nothing is more certain as traditional printing presses have been hit by the web , perhaps the TV studios are going to be hit as the amateur film maker, newscaster, newshound stakes their place.

Expect to see AOL open its cheque book again before the year end. Rumours persist about Technorati.

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