New York -- In a novel twist of events, struggling web pioneer AOL has just announced that it has acquired a cool iOS and Android photo-sharing app called Hipster and its namesake company for 'low seven figures,' according to TechCrunch.

For those who are not familiar, Hipster is an iOS app which lets you send “digital postcards” via your phone. Launched in 2011, its applications and website allow more that 100,000 users to create their personal digital postcards from photos taken on iPhone and Android devices, containing location data, that can be shared with your friends and family.

New York -- In an attempt to make it easier for iPad users to browse their content AOL has unveiled a tablet-optimized version of their signature website designed in HTML5 especially for the iPad users. The site is so conceived to reap benefits of the iPad's touch screen and to provide iPad users with seamless access to AOL's content and services.

New York -- In a surprising victory for Britain's popular video search outfit Blinkx--that has won the right to power AOL's video search. Internet leader AOL announced Monday that it has forged alliance with Blinkx, to replace Truveo as AOL's video search feature, briefly spiking its shares this morning following the announcement.

New York -- In a surprising move AOL Inc., which has been investing immensely heavily in content to bolster-up its dawdling sites for declining revenue, today announced that it has appointed Rachel Fishman Feddersen, as an executive for the newly created position of Chief Content Officer for its struggling Patch platform catering to over 850 hyper-local news network.