AOL’s new chief executive Tim Armstrong plans to detail his strategy for reviving the struggling Internet company at a meeting Friday with thousands of the company’s employees, the Wall Street Journal says.
At a Friday meeting with AOL employees, new CEO Tim Armstrong says he will highlight several goals, including making AOL the market leader in online display advertising and one of the world’s biggest producers of digital content, such as Web sites and online video, a story in the Wall Street Journal says.
Written by Emily Steel, the story says AOL trails Google, Yahoo and Microsoft in ad revenues and traffic to its sites.
Armstrong says other areas of focus for AOL will include local online media, such as online mapping and community news, and digital communications, building on the company’s e-mail and instant-messaging services, the story says. He also plans to create a new-ventures business unit to house fledgling projects and acquisitions, such as social-networking site Bebo, which AOL acquired for $850 million last year.
The story says that AOL chose these areas of emphasis by asking: “What are areas of the Internet that still need innovations, that are still white space?”
WSJ Online subscribers may read the full story here.