5min produces general instructional content for the Web. Similar in format to eHow, video content includes titles such as “How to Sort Dirty Laundry” and “How to Check Your Car’s Oil Level.”
Along with the acquisition today of Techcrunch, AOL is continuing its move to bring more content to its Web properties to boost traffic and fuel ad revenue.
“Our acquisition of 5min Media is the latest in a number of steps we have taken this year to better position AOL to capture the growing video opportunity on the Web,” Tim Armstrong, chairman and chief executive of AOL, said in a statement. “AOL is building a video ecosystem for the next decade. 5min Media is the perfect complement to our powerful video capabilities – it provides a missing piece in the AOL value chain that completes our end-to-end video offering from content creation through syndication and distribution to the consumer experience and monetization.”
The acquisition of 5min provides AOL with more than 20,000 videos and a captive audience — 5min videos received 20 million unique views in August, according to comScore.
While terms of the deal have not been disclosed, 5min is rumored to have been acquired for $65 million.
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