August 15, 2008
It’s been confirmed that AOL has purchased lifestreaming aggregator SocialThing! for an undisclosed amount, according to this post on TechCrunch:
AOL says that the Socialthing! team will report to SVP of AOL and GM of People Networks David Liu, and will be incorporated into its People Networks division. Socialthing’s lifestreaming will be integrated into a number of AOL’s community properties, including its social network Bebo and AIM, its popular chat service.
The acquisition comes during a tough time for AOL, which has recently been forced to institute a number of budget cuts. Despite its setbacks, AOL is still keen on keeping its valuable social properties healthy, and likely saw Socialthing! as a relatively cheap investment (the aquistion price was not released, but it was probably fairly small).
SocialThing! launched only five months ago…