New Launch for AOL in Personal Finance
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Time Warner's (NYSE: TWX) AOL will launch a personal finance site on Tuesday, adding to a roster of new properties that do not bear its name.
The new site, called WalletPop.com, is a spin-off of AOL's Money & Finance channel and will focus on consumer and personal finance. AOL Money & Finance will continue to offer business and investing news and tools.
The launch of another site not bearing the AOL brand is part of a plan to create new online businesses courting younger audiences unfamiliar with a company whose heyday ended with the popularity of high-speed Internet access.
TMZ.com, a celebrity entertainment site created by AOL and a unit of Warner Bros., added 35 percent more users in May, now attracting about 9.2 million visitors monthly, according to comScore (NASDAQ: SCOR). Asylum, which the company said is now the top men's site, attracted 2.7 million unique visitors in May.
Walletpop offers "a comprehensive, accessible, and interactive Web site focused exclusively on the money matters of real people, such as debt management, finding the best deals, saving, retirement, insurance, real estate, banking, taxes and more," Marty Moe, senior vice president for AOLs Money & Finance division, said in a statement.
Walletpop's launch follows on the heels of the July launch of BigDownload.com, a site targeting PC gamers.