He is a business executive, currently serving in the positions of Chairman and CEO of the global mass media corporation AOL, otherwise known as America Online. [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. [11] At the time, the firm's revenues had dropped around 22% to just under $3.3 billion between 2008 and 2009. [8] While there he became interested in Google ads and arranged to meet its sales and operations chief, Omid Kordestani. 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 … [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 online service provider based in New York. [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. He is the Founder and CEO of the dtx company,[2] a product, design and technology company focused on the direct-to-consumer economy. In addition to heading AOL, Tim was a former Google ads chief. CEO Tim Armstrong axed one of his employees during a conference call heard by more than 1,000 other staffers. It is a brand marketed by Oath, a subsidiary of Verizon Communications. 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. [17] Armstrong launched a number of sites under the AOL banner which specifically cater to women, including StyleList.com, AOL Shopping, and KitchenDaily.com, and 60% of the readers at Patch Media are female. 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". "I acted too quickly," the AOL boss now says. [28], In January 2016, AOL bought off French programmatic ad platform AlephD,[29] complementing the programmatic ad platform Armstrong had established for AOL in 2014, entitled ONE. [4] He also studied at the Lawrence Academy, and became a trustee of both the Academy and Connecticut College. So Armstrong will be with us again at Disrupt SF. Fast Company & Inc © 2021 Mansueto Ventures, LLC. Music career Basic Radio. [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. Armstrong also oversaw AOL's acquisition by Verizon for $4.4 billion in 2015. "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". [34], Armstrong has been involved as an angel investor in numerous projects. AOL seeks to shrink workforce by a third after spin-off. Timothy M. Armstrong (born December 21, 1970) is an American business executive. He replaced the outgoing Randy Falco as current CEO as of March 12, 2009. Verizon Acquisition of AOL : Tim was instrumental in selling AOL to Verizon in … AOL is buying three companies -- TechCrunch, 5Min, and Brizzly -- for a rumored $100 million. Retrieved January 7, 2020. Doron Sabag and Jim Hoffman of Houlihan Lawrence hold the listing. Before AOL, Armstrong worked at Google for nearly a decade. Basic Radio was founded in 1985 and included Matt Freeman and Tim Armstrong. But after Armstrong, Reynolds was the board's leader - an almost-chairman. 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. The Tim Armstrong (AOL CEO) net worth and salary figures above have been reported from a number of credible sources and websites. The company launched in 2012. 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 untangled AOL from its acquisition of Time Warner, added the digital local news division he founded, Patch Media, and acquired the … He is founder of the dtx company. [7], In early 2009, Jeff Bewkes, the chairman of Time Warner, announced that he wanted to coordinate AOL as a private company. Two decades ago the AOL chief executive absorbed a crushing hit on a high school football field. When Tim Armstrong took the reins at AOL in 2009, it was a company largely dependent on subscriber revenue for its profitability. [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. 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. [4] Titled BIB (Beginnings in Boston), this paper offered advice to young college graduates on entering the workforce. 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. AOL declined to comment. He also co-founded the United Football League with Bill Hambrecht. Tim Armstrong: No more dial-up welfare at AOL. Previously, he was the CEO[3] of AOL Inc. from 2009 until its purchase by Verizon in 2015. [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. [4] He played lacrosse, was on the rowing team, and coached the women’s ice hockey team for four years. Timothy M. Armstrong (born c. 1971) is CEO and Chairman of AOL Inc. ^ Dua, Tanya. [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. [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. 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. I think mobile will dwarf that". [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. He is personal investor in the New York-based Tequila Avion,[35] and with AOL invests in Betaworks. finance. Tim Armstrong is the chairman of AOL's board, and he sets the agenda for all its meetings. [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". [4] In 2010, Armstrong launched AOL's "Monster Help Day", which commits AOL employees worldwide to work for free for a day to raise money for charity. In early 2009, Jeff Bewkes, the chairman of Time Warner, announced that he wanted to coordinate AOL as a private company. 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 … W hen he joined AOL as chief executive in 2009, Tim Armstrong had to unravel “the biggest mistake in corporate history”, spinning the company off at a … Our award-winning media delivers content consumers want, and our industry-leading platforms deliver on all your advertising goals. [22] Armstrong remained in his position as CEO. "Tim Armstrong is launching a new company to bring products and experiences directly to consumers, no retailer required". 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. Simultaneously, Tim was looking for women’s content for AOL and instantly saw the potential for these remarkable stories. [7] Armstrong served as the Director of Integrated Sales and Marketing for Starwave's and Disney's ABC and ESPN Internet ventures. At AOL, Armstrong has worked to transform the company into an ad tech and media platform. (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. [10] He used part of the wealth he amassed at Google to establish the New Jersey news website Patch Media, which was later acquired by AOL when Armstrong was appointed. Over the years his discomfort worsened, and a … 770 Broadway New York, N.Y 1003 www.aol.com. AOL is online service provider based in New York. Armstrong summarized the direction that AOL was going in 2014: "AOL has spent the last four years building platforms to facilitate the efficient and effective flow of advertising dollars to digital. [7] In 2010, Time Warner formally consented to AOL becoming a privately traded company on the New York Stock Exchange. He was also the one of the cofounders of the local … [5] On behalf of NYC Mayor Michael Bloomberg, he chaired Media.NYC.2020, which reviewed the future of the global media industry, the implications for NYC, and suggested actionable next steps for New York City's government. Tim Armstrong has been working in the mass media industry since 1993. [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. Basic Radio was founded in 1985 and included Matt Freeman and Tim Armstrong. CNBC. He is a business executive, currently serving in the positions of Chairman and CEO of the global mass media corporation AOL, otherwise known as America Online. [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 was also the one of the cofounders of the local news website Patch Media. Under Armstrong's leadership, AOL has acquired numerous tech and media companies, including TechCrunch, The Huffington Post, and Patch Media. Former Google ads chief and AOL CEO Tim Armstrong is launching a new company. He became known for his online advertising sales in the 1990s, and was appointed as a marketing director for Seattle-based online entertainment-and-news portal Starwave, which was acquired by Disney in 1998. [4] A colleague convinced him to pursue a media career,[7] which resulted in him establishing a financial newspaper for young people in Boston. 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!. [25] In July, Armstrong was awarded the Life Achievement Award at the Corporate Social Responsibility Awards organized by Capalino+Company, a New York City-based government and community relations company. [14] Armstrong helped AOL rebrand as a content company, focusing on original material, and making the decision to cut the number of ads generated by the firm to make advertising more exclusive and appealing to the most prominent advertisers. 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. Tim Armstrong: No more dial-up welfare at AOL. Tall, toothy, and angular, Armstrong, 42, is folded into the back seat of a black SUV barreling down the highway from San Francisco, where he’s … [24] Video content is increasingly becoming a major part of AOL in what CNBC describes as the "content golden age". [7], In the summer of 2000, Armstrong was appointed Vice-President of Strategic Partners at New York-based news-and-gaming company Snowball. finance. AOL CEO Tim Armstrong is no stranger to the stage at Disrupt, but his job's gotten a lot bigger in recent months with the acquisition of Yahoo. He replaced the outgoing Randy Falco as CEO of AOL on March 12, 2009. [4], According to the Cambridge University Press, Armstrong's strategy focuses on digital journalism in local communities, especially ones without their own newspapers. [23] Fortune conjectured that the Verizon deal would bring Armstrong himself approximately $59 million in stock options. In 2013 Tim Armstrong was paid a salary of $1 million, but his total compensation was over $6 million. Obligatory Bio Since being named AOL’s chief executive in April, former Googler Tim Armstrong has hit 16 cities in 10 countries on a whirlwind tour of AOL…