AOL Acquires Internet video search pioneer Truveo, Inc.

AOL Acquires Internet video search pioneer Truveo, Inc.

“
Online consumers seeking the best video search engine will now find it on the leading free portal on the web – AOL.com ( http://aol.com/video ). Internet video search pioneer Truveo, Inc. has been acquired by America Online, Inc., solidifying AOL’s leadership position as the premier destination for a full suite of video and search services.
AOL’s acquisition agreement with Truveo was signed and closed on December 21, 2005. Financial terms were not disclosed. Truveo was previously privately held, and financed by strategic venture and angel investors.
Truveo, based in Burlingame, California, was co-founded by CEO Dr. Tim Tuttle and CTO Dr. Adam Beguelin in January 2004. Truveo subsequently launched its premier video search engine technology in September 2005. “

This looks like a good deal for AOL and its customers, Video search is an other great development and due to the increase in high spead broadband connections more and more videos come online, AOL is sure to benefit on this,

http://www.fool.com/News/mft/2006/mft06011012.htm

Says AOL betrays google,

“Remember that Google basically had to shell out $1 billion in order to keep its share of AOL’s search biz. As part of the deal, it had to compromise its increasingly farcical “don’t be evil” motto by pledging to help AOL tweak its web pages so that they’ll appear more prominently in Google’s unpaid search results. (“We won’t cheat, but we’ll show you how!”)
After strongarming the billion bucks out of Google, what was Time Warner and AOL’s response to Google’s much-hyped video rollout this week?
AOL said, “Thanks for the money, and by the way, we’re upgrading our own video search.” Webheads can find it at aol.com/video. AOL souped up its own video search platform by purchasing the small video search company Truveo. “

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