interesting post up on techcrunch (
http://tcrn.ch/AolYahoo) about how AOL could have purchased Yahoo WAY BACK IN THE DAY for $2mm. This isn't really a blown opportunity per say, but just outlines one of many instances where AOL failed to transform their dominant presence, first as an ISP and second as a communications platform (AIM) to become a game-changing company. they could have easily become the US version of
Tencent, a multi-media powerhouse that provides value add content and services to its users via multiple business models. AOL could've/should've become the company that provided Facebook-like networking services, twitter-like communication services and Steam-like gaming services. But they blew it.
disclaimer: Tencent led an investment at my current employer Riot Games last summer, and I will likely frequently mention their awesomeness because they are super-killing it in China