AOL made a pair of big announcements today — including a new acquisition and a new hire — and revealed that it’s searching for a new chief technology officer.
First, the new stand-alone online company announced that it had acquired StudioNow, an online video platform, for $36.5 million. The new acquisition will be folded into AOL’s Seed.com, integrating video content into the site that searches the Internet for what people want to read and assigns those pieces to freelancers. Said CEO Tim Armstrong:
“Premium original video creation is a fundamental part of AOL’s strategy to offer consumers world-class, stimulating content at scale and the integration of StudioNow into Seed.com will enable us to increase our video content/offerings significantly.”
AOL’s second announcement revealed a new hire: Jeff Reynar, who has been brought on as head of technology for engineering and products. Reynar will oversee the company’s new New York-based “Technology Center,” and work on innovation for the company’s content development business.
Reynar worked at Google and Microsoft before co-founding DBT Labs, “a company that built a social search service,” AOL said. No doubt his social search experience will help expand the reach and capabilities of Seed.
Additionally, AOL mentioned that it’s currently on the search for a new CTO, since the current chief, Ted Cahall, “has decided to move on from AOL and will be transitioning the company to a new CTO.”
Full release about Reynar’s hiring after the jump
Read more: Press release: AOL Acquires StudioNow
Previously: Saul Hansell Leaves New York Times For AOL