America Online acquires video search company Truveo
Just weeks after Time Warnerâ€™s America Online announced the continuation deal with search engine giants Google; they have revealed another interesting news for the market analysts. AOL has announced that they are acquiring the video search company Truveo which is a potential rival of Google in the video searching market.
This acquisition deal comes at a time when Google is revamping their video search engine with a video store, which would enable anyone and everyone to upload their own videos for sale online. However, the deal is significant in the sense that video searching is going to become a big market in the coming times as the broadband connectivity becomes more widespread and people start using search engines for hunting for videos.
Truveo would be an impressive addition to the existing base of AOL services to lure in more visitors to AOL’s ad-supported sites. AOL has recently decided to change their business model from providing ISP services to profit from advertisement networks running on their content channels on the internet.
AOL however declined to reveal the details behind their acquisition of Truveo. Interestingly, AOL already has a video search engine company under their reigns. They had acquired multimedia search technology from Singingfish Inc. a couple of years ago.