AOL buys web developer Ashe Avenue
AOL recently acquired Ashe Avenue, its second acquisition after being acquired by Verizon. AOL also acquired Velos, a predictive analytics startup group that they also almost immediately shut down.
John McKinney, CEO and co-founder of web development group Ashe Avenue, announced on their homepage the partnership. Ashe Avenue has done work for AOL brands in the last three years.
The group has done app development, redesigning flagship products and some other tasks for an AOL brand, MAKERS.com. McKinney added that the partnership with AOL became symbiotic ultimately leading them to a decision to work as partners.
McKinney added that AOL and Ashe Avenue have both worked to establish a team that can deliver and that they are looking forward to concentrating on strengthening their works.
AOL was acquired by Verizon in a $4.4 billion deal last May. The acquisition is seen as a way for Verizon to make use of AOL's specialization on video and advertising, which would help them enhance their OTT and wireless video strategies.
Now that Verizon owns AOL, questions about what will happen to AOL's other properties are still unanswered, but there have been rumors that it would be likely for Verizon to dispose of AOL's other properties.
The conditions and value of the deal were not disclosed, but McKinney said that the Ashe team will be in charge of the engineering and innovation of AOL's lifestyle verticals. McKinney also signed his announcement as CTO, AOL.com & Lifestyle Brands, but no information was given about the number of employees that will also go over to AOL.
Ashe Avenue is based in New York and has worked with advertising agencies, media companies, global brands and organizations to modify their creative concepts into web-based experiences. It has done work for High Times, NextNewNetwork, VICE, Samsung, Shutterstock, and Lexus. It also has offices in North Carolina.