Tim Armstrong Fnally Got Rid Of Patch, And Wall Street Loves It

Nicholas Carlson

Jan 16, 2014, 23:43 IST

Yesterday, Tim Armstrong finally gave up on Patch.

This was hard for him to do. He founded the local news network as a startup, then brought into AOL as an acquisition, and then funded with hundreds of millions of dollars.

Complimentary Tech Event

Transform talent with learning that works

Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

But today, a day after Armstrong killed his baby, AOL stock is up ~8% and hitting record highs.

Clearly, shareholders are giving Armstrong credit for eventually making the right call.

(Likewise, analyst reports this morning were full of praise for Yahoo CEO Marissa Mayer for finally getting rid of her expensive COO.)

Next Story MARISSA MAYER'S $109 MILLION MISTAKE: Why She Hired Yahoo COO Henrique De Castro In The First Place