When he took the job in April, AOL CEO Tim Armstrong said he would spend 100 days meeting with employees and formulating a turnaround plan.
In a memo to employees, Tim wrote that when those 100 days were up, AOL (TWX) would hold an all-hands meeting where “we’ll discuss our strategic direction for the coming years, and highlight areas that will bring AOL and AOL properties into the next decade of digital leadership.”
Cancel the meeting! Six days before his 100th day on the job we already know the broad outline of what Tim will announce at the meeting.
That’s because Tim and his executives already know what they want to do with the company and aren’t waiting till some arbitrary date to get going. (Good move!)
In order of importance, AOL’s business going forward will focus on:
- The MediaGlow content business. AOL will grow its mini-brands from ~75 to 100+ by the end of this year through acquisition and hiring.
- The Platform-A/Ad.com business. The target mix will be premium advertising sold to big brands, and more Google-y self-service ads for smaller businesses and direct-marketers.
- Local advertising/content. AOL will make a big deal out of trying to to attract the largely untapped local advertising market with community news network Patch, local events site Going.com and MapQuest.
- Communications products. AIM, email and ICQ.
As its been reported a bunch, AOL will also set up a division called AOL Ventures, where it will stick businesses it wants to sell off (ahem, Bebo).
Business Insider Emails & Alerts
Site highlights each day to your inbox.