He was vice-president of sales at the New York-based news-and-gaming company Snowball in 2000. Tim Armstrong is the chairman of AOL's board, and he sets the agenda for all its meetings. [31] In November 2019, the dtx company launched DTC Friday,[32] the first national shopping holiday that celebrates and empowers the direct-to-consumer movement and Flowcode,[33]the offline to online company, building direct connections for brands and consumers through next generation QR code technology. He also co-founded the United Football League with Bill Hambrecht. Timothy M. Armstrong (born c. 1971) is CEO and Chairman of AOL Inc. AOL seeks to shrink workforce by a third after spin-off. Timothy M. Armstrong (born c. 1971) is CEO and Chairman of AOL Inc. This resulted in a cut of the company's workforce by one third and a reduction to often a single featured advert a day, instead of the 15 previously. 770 Broadway New York, N.Y 1003 www.aol.com. ", "TimothyArmstrong Named To Priceline.com Incorporated Board of Directors", "Doug Reffue Named Boston Blazers President", "LEAKED AUDIO: Listen To AOL CEO Tim Armstrong Fire A Patch Employee In Front Of 1,000 Coworkers", "AOL Chief Apologizes Over Firing of Worker", "AOL chief cuts 401(k) benefits, blames Obamacare and two "distressed babies, "Tim Armstrong collected news and commentary", California Redwoods / Sacramento Mountain Lions, https://en.wikipedia.org/w/index.php?title=Tim_Armstrong_(executive)&oldid=1010484790, United Football League (2009–2012) executives, Articles with unsourced statements from January 2020, Creative Commons Attribution-ShareAlike License, This page was last edited on 5 March 2021, at 18:37. By the time of the 6th Annual Help Day in 2015, the scheme had 85 projects running worldwide, with over 50,000 work hours donated. CEO Tim Armstrong axed one of his employees during a conference call heard by more than 1,000 other staffers. But after Armstrong, Reynolds was the board's leader - an almost-chairman. Armstrong also oversaw AOL's acquisition by Verizon for $4.4 billion in 2015. Tim Armstrong, chairman and CEO of AOL, speaks during the Bloomberg Media Summit in New York, March 10, 2011. AOL reboots 10 years after Time Warner merger, with a bold bet on content. He replaced the outgoing Randy Falco as CEO of AOL on March 12, 2009. The Tim Armstrong (AOL CEO) net worth and salary figures above have been reported from a number of credible sources and websites. At the time, the firm's revenues had dropped around 22% to just under $3.3 billion between 2008 and 2009. [7] In 2010, Time Warner formally consented to AOL becoming a privately traded company on the New York Stock Exchange. When Tim Armstrong took the reins at AOL in 2009, it was a company largely dependent on subscriber revenue for its profitability. Tim Armstrong Chairman and CEO AOL. [11] At the time, the firm's revenues had dropped around 22% to just under $3.3 billion between 2008 and 2009. Kordestani invited him to California to meet Sergey Brin and Larry Page, who subsequently appointed him as U.S. sales chief for Google. ... Tim Armstrong 770 Broadway New York, N.Y 1003 Tim.Armstrong… [15] Another 1000 employees were laid off in March 2011. [17] Armstrong appointed Arianna Huffington, the co-founder and editor-in-chief of the paper as president. [7] He held positions such as President of Google's Americas Operations, and Senior Vice President of Google Inc.[citation needed] Armstrong has been credited for helping establish Google AdSense in 2005. ^ Dua, Tanya. Former Google ads chief and AOL CEO Tim Armstrong is launching a new company. [26] In September, Armstrong and AOL acquired mobile ad tech company Millennial Media in a deal worth a reported $238 million, with the aim of adding a "leading supply-side platform for app monetization" to AOL's assets. Basic Radio was founded in 1985 and included Matt Freeman and Tim Armstrong. AOL is online service provider based in New York. Timothy M. Armstrong (born December 21, 1970) is an American business executive. It was a quiet period in the women’s movement and not everyone in the corporate world shared Nancy and Tim’s enthusiasm. However, there are several factors that affect a celebrity’s net worth, such as taxes, management fees, investment gains or losses, marriage, divorce, etc. Tim Armstrong: No more dial-up welfare at AOL. It is a brand marketed by Oath, a subsidiary of Verizon Communications. [7] In a 2011 interview, Armstrong claimed that Patch was responsible for the "largest investment in local communities outside of what the Obama administration is doing". Building a Mountain or Digging a Hole? Previously, he was President of Google’s Americas operation. Tim Armstrong untangled AOL from its acquisition of Time Warner, added the digital local news division he founded, Patch Media, and acquired the … [4] Armstrong was later appointed to Starwave, a Seattle-based online entertainment-and-news portal, in 1995. AOL’s Former CEO Wants $26.75 Million for Greenwich Mansion Tim Armstrong built the roughly 11,400-square-foot waterfront home in the same community where he built local news platform Patch (Reuters) - AOL Chief Executive Tim Armstrong reversed his decision to cut employee retirement benefits and apologized for remarks linking two women at the company with "distressed babies" to its rising health care costs that set off a fire storm of criticism. finance. But after Armstrong, Reynolds was the board's leader — an almost-chairman. Tim Armstrong needs a new hip. [20] Armstrong appointed Saul Hansell, a technology and finance reporter of The New York Times to run a journalism and engineering system for AOL called Seed, based on the concept that editors can make decisions on what to write about by compiling data and algorithms from the leading search engines like Google and social network sites like Facebook. Verizon Acquisition of AOL : Tim was instrumental in selling AOL to Verizon in … [23] Fortune conjectured that the Verizon deal would bring Armstrong himself approximately $59 million in stock options. So Armstrong will be with us again at Disrupt SF. Last updated: May 30, 2018. As chairman and CEO, Armstrong is responsible for setting strategy and overseeing the businesses and day-to-day operations of AOL. Bewkes appointed Armstrong as CEO of AOL on March 12, 2009, seeing him as a way to regain and secure the trust of Wall Street, Silicon Valley, and advertisers. [43], CS1 maint: multiple names: authors list (, "Tim Armstrong launches the dtx company, focused on direct-to-consumer", "AOL CEO Tim Armstrong '93 discusses career path since Conn", "How Tim Armstrong, a hotshot Boston sales guy, wowed Google's founders, built its multi-billion-dollar ad business from scratch, then became AOL's CEO", "Google Buys DoubleClick for $3.1 Billion", "AOL CEO Tim Armstrong's Pivot to Ad Tech Pays Dividends", "Bebo bargain: After selling to AOL for $850M in 2008, founders buy it back for … $1M", "Betting on News, AOL Is Buying The Huffington Post", "AOL Agrees to Acquire Adap.tv, a Rapidly Growing and Leading Unified Programmatic Video Platform for $405 Million", "AOL makes it personal with agreement to acquire Gravity", "AOL celebrates 6th Annual Monaster Help Day", "VerizonAgrees to Buy AOL for $4.4 Billion", "WhyAOL's CEO is getting a $59 million bonus", "Microsoft's Deal With AOL May Not Shake Up the Advertising or Search Markets as Much as You Think", "Capalino+Company Celebrates Technology + New Media at Corporate Social Responsibility Awards", "AOL has acquired mobile ad tech company Millennial Media", "Under Verizon, AOL's Tim Armstrong Sees Massive Growth for Mobile Media, Ads", "AOL Acquires AlephD To Be Part Of Its Newly Unified Publisher Platform", "AOL to build first cross-screen programmatic advertising platform - ONE by AOL", "Tim Armstrong is launching a new company to bring products and experiences directly to consumers, no retailer required", "Former AOL and Google exec Tim Armstrong is pronouncing a day for direct-to-consumer brands to rival Black Friday and promising them an audience of at least 100 million", "Tim Armstrong: The direct-to-consumer movement will be the replacement for retail issues", https://www.prnewswire.com/news-releases/jlo-beauty--flowcode-make-2021-the-year-of-direct-to-consumer-retail-in-the-shopping-capital-of-the-world-301205297.html, "Pernodtakes a $100M gulp of Tequila Avion", "Betaworks Gets Another $20 Million for Twitter-Friendly Start-Ups. Our award-winning media delivers content consumers want, and our industry-leading platforms deliver on all your advertising goals. AOL is online service provider based in New York. [5][6] He is the chairman of the IAB Education Foundation, described by AOL as a "a new non-profit working to improve diversity and close the skills gap across the digital media and advertising landscape", and serves as an advisor to the consulting firm McChrystal Group. Previously, he was the CEO[3] of AOL Inc. from 2009 until its purchase by Verizon in 2015. Tim Armstrong is the chairman of AOL's board, and he sets the agenda for all its meetings. The firm was acquired by Disney in 1998. [7], Under Armstrong, AOL has become a player in advertising. [7], In the summer of 2000, Armstrong was appointed Vice-President of Strategic Partners at New York-based news-and-gaming company Snowball. When Tim presented the concept to AOL, executives rolled their eyes. [21], In May 2015, Verizon Communications acquired AOL for $4.4 billion, moving AOL's stock up by over 17%. Tim Armstrong became CEO of AOL in 2009, at a time when the media tech company was trying to regain its footing after a failed merger with Time Warner. But after Armstrong, Reynolds was the board's leader - an almost-chairman. He was formerly the CEO of Oath Inc., a subsidiary of Verizon Communications that serves as the umbrella company of its digital content subdivisions, including AOL and Yahoo!. It is a brand marketed by Oath, a subsidiary of Verizon Communications. finance. Phone Contacts. [42], In February 2014, Armstrong claimed that ObamaCare and two “distressed babies” increased healthcare costs for AOL by $7.1 million per year and that, as a result, 401(k) contribution benefits for rank-and-file employees would be modified so employees that left before the end of the year would receive no company contribution towards their 401(k). Fast Company & Inc © 2021 Mansueto Ventures, LLC. Over the years his discomfort worsened, and a … In a town hall meeting last week where Armstrong sought to clarify why the company cut its employee … Tim Armstrong, CEO of Oath — Verizon’s newly merged AOL-Yahoo organization — said the company today is roughly the size of Netflix and is plotting a … On the platforms side of our business, as machines automate more media decisions across TV to digital, we are well-positioned to help advertisers, agencies and publishers realize the true value of data-driven advertising. Timothy M. Armstrong was born on the 21st December 1971, in Riverside, Connecticut, USA. [22] Armstrong remained in his position as CEO. [citation needed] He sold Square Deal and commenced working as an ad-sales director for I-Way,[7] run by the Boston-based International Data Group. [7], In early 2009, Jeff Bewkes, the chairman of Time Warner, announced that he wanted to coordinate AOL as a private company. Build brands people love. An award-winning team of journalists, designers, and videographers who tell brand stories through Fast Company's distinctive lens, The future of innovation and technology in government for the greater good, Our annual guide to the businesses that matter the most, Leaders who are shaping the future of business in creative ways, New workplaces, new food sources, new medicine--even an entirely new economic system. [39] To finance the newspaper, Armstrong and friend Michael Dressler sold their mountain bikes and amounted a debt of about $100,000. Before AOL, Armstrong worked at Google for nearly a decade. In 2017, Tim Armstrong and Billie Joe Armstrong, together with Tim's nephew Rey Armstrong and Billie Joe's son Joey Armstrong formed the band "The Armstrongs" and released their first single "If There Was Ever a Time". [9] Armstrong led Google into display advertising, aided by a $3.1 billion acquisition of Doubleclick in 2007. Tim Armstrong has been working in the mass media industry since 1993. In early 2009, Jeff Bewkes, the chairman of Time Warner, announced that he wanted to coordinate AOL as a private company. I think mobile will dwarf that". In a memo to employees, AOL CEO Tim Armstrong says the Verizon-owned company has added 1,500 employees over the past year because of acquisitions and partnerships, and it needs to consolidate to improve operations. [citation needed] While at Starwave he made his first $1 million online-advertising deal with Columbia/HCA, a health firm. Tim Armstrong became CEO of AOL in 2009, at a time when the media tech company was trying to regain its footing after a failed merger with Time Warner. The Tim Armstrong (AOL CEO) net worth and salary figures above have been reported from a number of credible sources and websites. Patch remains a productive news source, and as of January 2011 it reportedly cost AOL approximately 30 million dollars a quarter to run. "[30], Armstrong launched the dtx company in February 2019 to "invest in start-ups in [the direct-to-consumer] space and work with these brands to help them scale." [16] Consolidating the move into journalism came in June 2011 with the acquisition of The Huffington Post. [7], Armstrong saw considerable potential for publishing online and earning revenue through advertising. [41] Armstrong has publicly apologized for the firing of the employee since then, but did not offer to reverse the firing or provide any compensation. Tim Armstrong has been working in the mass media industry since 1993. AOL’s Former CEO Wants $26.75 Million for Greenwich Mansion Tim Armstrong built the roughly 11,400-square-foot waterfront home in the same … finance. The company launched in 2012. That year, Armstrong sold AOL-owned social-networking site Bebo for around $10 million, a reported eightieth of its original cost. CNBC. He is the Founder and CEO of the dtx company,[2] a product, design and technology company focused on the direct-to-consumer economy. Tim Armstrong, the former leader of AOL, is walking away with more than $60 million as he leaves Verizon Communications, which recently wrote … AOL seeks to shrink workforce by a third after spin-off. [40], In August 2013 an audio recording was leaked of Armstrong offhandedly firing an employee earlier that month during a conference call with over 1000 attending for taking a photo of the event. [5][6], After graduating from Connecticut College in 1993, Armstrong was responsible for teaching high school students in summer classes at Wellesley College, for a program called Exploration. We build brands – our own, and those of more than 22,000 publishers in our global network and the thousands of marketers we work with daily to help them accomplish their business goals in today's fast moving, dynamic market. 770 Broadway New York, N.Y 1003 www.aol.com. Basic Radio was founded in 1985 and included Matt Freeman and Tim Armstrong. Music career Basic Radio. [4] A colleague convinced him to pursue a media career,[7] which resulted in him establishing a financial newspaper for young people in Boston. "Tim Armstrong is launching a new company to bring products and experiences directly to consumers, no retailer required". Armstrong had been at Verizon since it acquired AOL and helped shepherd the acquisition of Yahoo, and was replaced Guru Gowrappan, the former Oath president and chief operating officer. He replaced the outgoing Randy Falco as current CEO as of March 12, 2009. [38], Still a keen sports enthusiast, Armstrong is a trustee for the United States Olympic & Paralympic Foundation,[5] and owns the Boston Blazers club which competes in the National Lacrosse League. Phone Contacts. [citation needed] In the fall of 1994, Armstrong and Dressler closed down BIB to run a larger, rival newspaper, Square Deal at Harvard Square, following the death of its chief editor. AOL is trying to regain its preeminence in tech-land by focusing on building media brands and platforms that help other media, CEO TIm Armstrong tells us. [22] The following month, it was announced that AOL had entered into a ten-year agreement with Microsoft, giving AOL the responsibility for its advertising sales across Microsoft platforms, and AOL in return agreeing to use the Bing search engine instead of Google on its sites. Simultaneously, Tim was looking for women’s content for AOL and instantly saw the potential for these remarkable stories. However, there are several factors that affect a celebrity’s net worth, such as taxes, management fees, investment gains … 8/11/13 - (DailyMail.co.uk) AOL CEO Tim Armstrong lashes out and fires an employee during a conference call with 1,000 workers listening in. AOL is buying three companies -- TechCrunch, 5Min, and Brizzly -- for a rumored $100 million. Tim Armstrong is quoted in the earnings release has bragging, "AOL grew global advertising by 8 percent, driven by 28 percent and 15 percent growth in third party network and global display advertising revenue, respectively, substantially closing the … finance. ... Tim Armstrong 770 Broadway New York, N.Y 1003 Tim.Armstrong@oath.com. Retrieved January 7, 2020. [13] In 2013, Armstrong was named by Fortune magazine as one of the "40 under 40". Under Armstrong's leadership, AOL has acquired numerous tech and media companies, including TechCrunch, The Huffington Post, and Patch Media. When Tim Armstrong replaced Randy Falco as CEO of AOL on March 12 2009, most independent observers felt that Armstrong was making a terrible mistake. "Former AOL and Google exec Tim Armstrong is pronouncing a day for direct-to-consumer brands to rival Black Friday and promising them an audience of at least 100 million". Doron Sabag and Jim Hoffman of Houlihan Lawrence hold the listing. [34], Armstrong has been involved as an angel investor in numerous projects. AOL CEO Tim Armstrong took the stage at Goldman Sachs' Communacopia conference and made a few headlines about his plans to create a next-generation digital content company. Tim Armstrong untangled AOL from its acquisition of Time Warner, added the digital local news division he founded, Patch Media, and acquired the Huffington Post and TechCrunch to …
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