AOL acquires 5min for video push
The Web portal picks up 4-year-old video-syndication platform 5min as it strives to bolster its current video offerings.
AOL has acquired video-syndication service 5min for an undisclosed sum, the company announced today.
According to AOL, it acquired 5min to bolster its "appeal to advertisers." The company also plans to use 5min to "enhance the distribution and monetization of AOL-produced original video content throughout the Web."
5min has enjoyed considerable success since it launched in 2006. According to AOL, 5min attracted 20 million unique viewers in August, during which it offered over 130 million video streams.
The success of 5min can be attributed to the breadth of content the site offers--over 200,000 videos on topics ranging from travel to technology, video games to cars. Currently, over 1,000 media companies and independent video products syndicate their content to the site, including CNET.
AOL has been focusing on improving its video offerings over the past year. In January, itfor $36.5 million.