""AOL is an iconic, beloved business that's in good health, has stood the test of time, and we believe has unexpressed potential," said Bending Spoons CEO and co-founder, Luca Ferrari, in a statement along with the company's acquisition announcement. "By our estimation, AOL is one of the top ten most-used email providers in the world, with a highly retained customer base counting around 8 million daily and 30 million monthly active users. We intend to invest significantly to help the product and the business flourish.""
"Bending Spoons also announced it took on $2.8 billion in debt financing in order to fund the AOL acquisition, among other investments. According to the , AOL still pulls in more than $500 million annually in revenue, resulting in roughly $400 million in earnings each year. Last month, AOL officially sunsetted the company's dial-up service offerings after 30 years. However, while only hundreds of thousands of users in the U.S. still utilized dial-up,"
Bending Spoons acquired AOL from Yahoo for $1.5 billion and intends to invest significantly to grow the product and business. The buyer took on $2.8 billion in debt financing to help fund the acquisition and other investments. AOL reportedly generates more than $500 million in annual revenue and roughly $400 million in annual earnings. AOL maintains an estimated 8 million daily and 30 million monthly active users and ranks among the top ten most-used email providers globally. Dial-up service was officially sunsetted after 30 years, while over one million customers continue using AOL for services like cybersecurity and technical support. Bending Spoons has pursued multiple acquisitions of established online brands.
Read at Mashable
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