AOL is an American web portal and online service provider based in New York City. It is a brand marketed by Yahoo, Inc..
AOL was one of the early pioneers of the Internet in the mid-1990s, and the most recognized brand on the web in the United States. It originally provided a dial-up service to millions of Americans, as well as providing a web portal, e-mail, instant messaging and later a web browser following its purchase of Netscape.
AOL began in 1983, as a short-lived venture called Control Video Corporation (or CVC), founded by William von Meister. Its sole product was an online service called GameLine for the Atari 2600 video game console, after von Meister's idea of buying music on demand was rejected by Warner Bros.
In January 1983, Steve Case was hired as a marketing consultant for Control Video on the recommendation of his brother, investment banker Dan Case. In May 1983, Jim Kimsey became a manufacturing consultant for Control Video, which was near bankruptcy. Kimsey was brought in by his West Point friend Frank Caufield, an investor in the company.
On May 24, 1985, Quantum Computer Services, an online services company, was founded by Jim Kimsey from the remnants of Control Video, with Kimsey as chief executive officer, and Marc Seriff as chief technology officer. The technical team consisted of Marc Seriff, Tom Ralston, Ray Heinrich, Steve Trus, Ken Huntsman, Janet Hunter, Dave Brown, Craig Dykstra, Doug Coward, and Mike Ficco.
In February 1991, AOL for DOS was launched using a GeoWorks interface followed a year later by AOL for Windows. This coincided with growth in pay-based online services, like Prodigy, CompuServe, and GEnie.
In January 2000, as new broadband technologies were being rolled out around NYC metropolitan area, and the U.S., AOL and Time Warner announced plans to merge, forming AOL Time Warner, Inc. The terms of the deal called for AOL shareholders to own 55% of the new, combined company. The deal closed on January 11, 2001.
On May 3, 2021, Verizon announced it would sell Yahoo and AOL to private equity firm Apollo Global Management for $5 billion.
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