US EditionAOL Has A New Italian Owner: Unicorn Startup Bending Spoons
Bending Spoons secured $2.8 billion in debt to acquire AOL, expanding its portfolio with a brand still serving 30 million monthly users, aiming to enhance technology and revenue.
- Bending Spoons announced Wednesday that it has struck a deal to acquire AOL from Apollo Global Management via Yahoo, with the acquisition expected to close by the end of 2025.
- Seeking growth, Bending Spoons views AOL's roughly 8 million daily and 30 million monthly users as strategic to expand its reach and grow its 300 million monthly users and revenue this year.
- The company raised debt financing and hired advisers including Greenhill and Wells Fargo to execute the deal, securing a $2.8 billion debt package from BNP Paribas, Goldman Sachs, HSBC and J.P. Morgan.
- CEO Luca Ferrari vowed Bending Spoons will be a long-term steward and plans to invest significantly to improve AOL's product and serve its loyal customers.
- This deal is the latest in Bending Spoons' string of U.S. internet brand purchases, following Vimeo and others, while AOL's history includes the Time Warner merger and Verizon ownership, keeping its iconic 'You've Got Mail' jingle.
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AOL to be acquired for $1.5 billion by company that bought Vimeo, Evernote
"You've got mail!"While America Online, better known as AOL, is nowhere near its heights during the late 90s and early Aughts, when the dial-up service had more than 20 million paying subscribers, millions of people still hear that infamous catchphrase to this day when logging into their email account on America Online, better known as AOL.And those millions of users are worth a significant chunk of change to the Italian app maker Bending Spoons…
Bending Spoons is buying AOL for some reason
AOL will soon have a new owner. Bending Spoons, the Italian software company that has bought up a range of other digital businesses like Evernote, MeetUp, WeTransfer, and soon Vimeo, announced plans to purchase AOL from Yahoo after securing a $2.8 billion debt financing package. Over the past couple of decades, AOL has been passed from company to company, merging with Time Warner in 2001 before getting spun off and sold to Verizon in 2015 for $4…
AOL to Be Acquired by Italian Tech Company Bending Spoons for $1.5 Billion
Yahoo owner Apollo Global management has entered into an agreement to sell web portal and email provider AOL to Milan-based technology company Bending Spoons. Financial terms were not disclosed, but Axios reported the deal is valued at roughly $1.5 billion. “AOL and Yahoo share a great deal of history, and our new team has enjoyed the opportunity to return AOL to growth,” Yahoo CEO Jim Lanzone said in a statement. “This transaction will allow us…
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