WebProNews

Tag: Susan Lyne

  • AOL Launches BBG Fund Focused On Women-Led Tech Start-Ups

    AOL announced a new venture fund focused on early stage investments in women-led consumer internet start-ups, and appointed Susan Lyne to run it. It’s called the BBG Fund.

    The BBG Fund will make seed and Series A investments, focusing on multiplatform media, services, and commerce. AOL says it’s part of a broader initiative to bring more women into tech.

    Lynne was previously Executive Vice President and CEO of AOL’s Brand Group. She will continue to work out of AOL’s NYC headquarters and report to CEO Tim Armstrong.

    “As head of AOL Brands, I had the opportunity to contribute to the growth and profitability of our portfolio of premium brands,” said Lyne. “In my new role, I am looking forward to contributing in a different way. We have a huge megaphone at AOL so we can have an outsized impact on the way girls and women perceive their options, and on the breadth of entrepreneurial ideas that have a chance to compete. But this is also good business: women are the majority of users on the fastest-growing sites and services on the internet. We believe we can get strong returns by focusing on entrepreneurs who know the customer best.”

    “Susan has done an excellent job in her time at AOL at a board and operating level, and we are excited to be putting her vast skills and expertise to work to replicate this success at The BBG Fund,” said Tim Armstrong, Chairman & CEO of AOL. “AOL has a strong track record of investing in women, women’s leadership, and we are adding to our investments in the most important space for women entrepreneurs. ”

    Maureen Sullivan, President of Media Brands will continue to lead AOL.com and the company’s lifestyle brands and money portfolio. Luke Beatty, President of Media Brands, will lead its technology, autos and entertainment properties and the Experimental Products team. Arianna Huffington and Jimmy Maymann will continue to run The Huffington Post.

    Lyne will present AOL’s broader #BUILTBYGIRLS initiative at Ad Week next month.

    Image via Twitter

  • AOL Appoints Susan Lyne CEO Of Brand Group, Minson Steps Down As COO

    AOL just announced that it has appointed Susan Lyne CEO of its brand group, and she will run the AOL operating unit that houses the company’s portfolio of brands.

    There were already rumors being reported that she would be taking over all AOL content other than Huffington Post, though the company didn’t specifically mention this in its announcement. TechCrunch shares a company memo, however, which indicates that Arianna Huffington will still report to Tim Armstrong.

    “In her roles as CEO then Chairman of Gilt, and previously as President and CEO of Martha Stewart Living Omnimedia, Susan has a proven track record of brand building and aggressive growth,” said AOL CEO Tim Armstrong. “I know she’ll bring that same drive and growth-oriented mentality to our Brand Group. AOL ended 2012 growing revenue for the first time in eight years, and we expect Susan to help build on this momentum and take our brands to the next level.”

    “In my three years as an AOL board member, I have partnered with Tim Armstrong and my fellow directors to help drive the company’s transformation, and have seen AOL make great strides as it continues to innovate, grow and evolve,” said Lyne. “I’m looking forward to contributing to the company’s continued evolution in my new role, and will focus on creating additional value with all of AOL’s premium brands. Our efforts center on making all of our brands true destinations for audiences worldwide, and to provide marketers with innovative opportunities to connect with these audiences.”

    Lyne will remain Vice Chairman of Gilt, a role she recently transitioned to from Chairman.

    She has also served as President of ABC Entertainment, overseeing the development of shows like Desperate Housewives, Lost, and Grey’s Anatomy. Not bad experience to have as AOL continues to make a big video push.

    AOL’s Chief Operating Officer, Arthur “Artie” Minson, who previously oversaw all three of AOL’s business unites: the Membership Group, AOL Networks, and the Brand Group, is stepping down. He will remain with the company for a transition period.