All of the engineers at AOL’s mobile ad network Third Screen Media took the company’s buyout package, one of the engineers who quit tells us.
There were 12 of them: “two four-person developer teams, 3 build/QA-types, and the boss,” says our source.
Why’d they quit?
“Well, in a speech at UBS, [AOL CEO Tim] Armstrong said that [Third Screen Media] was “basically out of business.”
It’s true. During his speech, Tim said AOL would focus on growing its mobile users in 2010 and only start worrying about monetizing them in 2011.
“Given that the group size, the 50-80% cutbacks that were being hinted at meant we’d only have enough to do maintenance.”
As an AOLer from Ad.com’s greatly diminished Baltimore office told us earlier today, “Obviously it’s better to be the first out looking for a new job than the last!”
AOL acquired Third Screen Media for an undisclosed sum in May 2007.
Don’t miss: Admit It, The New AOL.com Looks Beautiful
Business Insider Emails & Alerts
Site highlights each day to your inbox.