Relegence, the real-time news company AOL (NYSE: TWX) acquired for around $50 million in 2006, is shutting down its B2B biz, paidContent has learned. Instead, the focus will be inward and purely on technology, not sales, with AOL using the technology to power its MediaGlow sites. The real-time news and financial info already powers modules on AOL Money & Finance, WalletPop, other verticals and the portal’s front page.
Just last month, Relegence was promoting its products to the financial industry at a trade show; even now, the Relegence site features promos for FinAIM, a corporate product integrating the AIM instant messenger that AOL told me will not launch, and Relegence FirstTrack, which AOL confirms is being discontinued. It’s not clear how many FirstTrack subscribers there are or whether they have been told about the shutdown. In this age of real-time news and info, a service that monitored 10,000-plus sources, integrated them with in-house data and went to the desktop, should have been a good bet.
AOL’s official explanation: “At AOL, we