Bending Spoons Acquires AOL
Sara Fischer (via Hacker News):
Apollo Global Management has reached a deal to sell AOL to Italian tech holding group Bending Spoons in a deal valued at roughly $1.5 billion, Axios has learned.
[…]
AOL still drives hundreds of millions of dollars of free cash flow. […] Bending Spoons CEO Luca Ferrari said AOL has around 30 million monthly active users across its email and web content properties.
[…]
Bending Spoons has also raised $2.8 billion in debt financing that will be used to fund the AOL deal as well as future research and development investments and merger and acquisition opportunities.
Previously:
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Holy shit. That's what I said out loud when I read this, sorry. So many headlines lately 90s me thought I'd never see.
THE AOL acquired by...the company that buys apps that can't seem to monetize?
Which now that I say that, makes perfect sense, but still. Weird sentence to read.
