Published December 16, 2009 at 3:41 PM
"AOL was missing that spark of innovation," Tim Armstrong tells The Deal about the corporate culture he found when he joined AOL Inc. (NYSE:AOL) as CEO in March. To rekindle the creative flame, Armstrong set up AOL Ventures, which is charged with investing in startups, incubating projects initiated by employees and growing recent acquisitions, including Patch, Bebo, Truveo and Userplane.
In the interview, Armstrong also addresses media coverage about which properties AOL may shed in the new year, dismissing it as speculation. MapQuest, he argues, "is one of the best-known brands on the Internet. I'm sure there are a lot of people
who'd like to own MapQuest, and AOL is one of them." The Deal spoke with Armstrong on the floor
of the NYSE Euronext on AOL's first day of public trading
independently from Time Warner Inc. (NYSE:TWX). Click here for more of The Deal's conversation with Armstrong. Subscribers to The Deal Pipeline may read more about AOL's independence day here. Watch the video above or download it on iTunes. - Mary Kathleen Flynn