Happy Loser Tim Armstrong Made $15 Million Cash Yesterday

AOL CEO Tim Armstrong at NYSE

AOL CEO Tim Armstrong wanted AOL to buy Associated Content last fall, but AOL’s then parent-company Time Warner (TWX) said no.

Yesterday, Yahoo swooped in and snatched Associated Content for $90 million.

Given that information, you’d think Tim would be upset about losing the deal.

But that’s incomplete information.

The full story is that Tim helped found Associated Content and, until yesterday, owned about 20% of the company, according to a source close to the deal.

So yeah, Tim is probably a little bummed that AOL (AOL) won’t ever be able to hook its own floundering freelancer platform Seed.com up with Associated Content’s superior technology, but we’re guessing he doesn’t mind the extra $15 million in cash after taxes in his pocket, either.

Don’t miss: AOL’s Content Strategy Is Still A Mess

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