{
  "docId": "019dd923-622b-71dc-a6d9-afa084f9cd73",
  "docSlug": "eb305b39ce19",
  "documentTitle": "AOL, Inc. (AOL)",
  "authorId": "03_Starboard_Value",
  "authorName": "Jeffrey C. Smith",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-05-23 00:00:00",
  "orientation": "portrait",
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  "pageNumber": 42,
  "pageCount": 96,
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  "nextPage": 43,
  "slideType": "expose_contradiction",
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  "notes": "The slide uses a screenshot of AOL.com to illustrate that a brand with no physical stores (VON VONNI) would naturally advertise on a broad-reach site like AOL, implying Patch's revenue sources might be similar.",
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  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6d9-afa084f9cd73/42",
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      "bbox": null,
      "kind": "callout",
      "text": "It would therefore make sense that VON VONNI ads would appear on AOL.com, as shown below, given the broad demographic and reach from the site.",
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        "h": 0.3,
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        "x": 0.31,
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      "kind": "image",
      "text": "AOL.com Shopping screenshot with VON VONNI ad circled",
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      "kind": "paragraph",
      "text": "Introducing VON VONNI: VON VONNI is an online retailer that sells women’s clothing. According to VON VONNI’s customer service department, it has no physical retail stores. While we have not spoken directly to someone in VON VONNI’s advertising department, we would expect that this business, like similar businesses that have no local physical retail stores, would desire a broad reach for advertising rather than hyper-local targeting. It would therefore make sense that VON VONNI ads would appear on AOL.com, as shown below, given the broad demographic and reach from the site.",
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      "kind": "source-note",
      "text": "Source: Company websites.",
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      "kind": "title",
      "text": "We also question how much of Patch’s revenue is actually derived from demand for Patch",
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      "evidence": "The slide attempts to expose a contradiction in the company's revenue model by suggesting it is driven by broad advertising rather than organic demand.",
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      "name": "Cost Of Inaction",
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      "evidence": "The document highlights the costs of inaction and the need for change in AOL's operations and strategy",
      "position": 0,
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      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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