Tim Armstrong Fnally Got Rid Of Patch, And Wall Street Loves It
Jan 16, 2014, 23:43 IST
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Yesterday, Tim Armstrong finally gave up on Patch.
This was hard for him to do. He founded the local news network as a startup, then brought into AOL as an acquisition, and then funded with hundreds of millions of dollars.
But today, a day after Armstrong killed his baby, AOL stock is up ~8% and hitting record highs.
Clearly, shareholders are giving Armstrong credit for eventually making the right call.
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(Likewise, analyst reports this morning were full of praise for Yahoo CEO Marissa Mayer for finally getting rid of her expensive COO.)