This past Tuesday, AOL put in a 6.3 billion kronor (about $900 million) bid for Swedish ad network TradeDoubler.  Although TradeDoubler's board voted to accept the bid, one of its largest share holders rejected the bid as undervalued.  The take among the investment community is that this is AOL's attempt to expand advertising revenues now that it has moved away from its subscription-based business model.  While I think this is certainly true, I find a few other angles of the potential acquisition more interesting: