by Noa Parag
US Internet giant AOL is buying Israeli start-up 5min, according to technology blog All Things Digital. The value of the deal was not reported but estimates are that it was up to around $65 million. A formal notice of the acquisition is expected today. The company declined to comment. 5min was founded in 2007 by Ran Harnevo, who serves as chairman; Tal Simantov, chief marketing officer; and Hanan Laschover, chief technology officer. 5min is a platform for instructional videos in all kinds of fields that enables people to share their knowledge by uploading videos lasting up to five minutes. 5min has raised $13 million to date, reportedly from venture capital funds Spark Capital and Globespan Capital, along with private investors. The private investors include Nehama Karpol, Ofer Lazovski, and advertising agency Adler Chomsky’s Grey Interactive Israel. If the deal does go through, it will be AOL’s fifth acquisition in Israel. http://www.globes.co.il/serveen/globes/docview.asp?did=1000590822&fid=1725
