Nov 26
Google-ICOA Deal That Never Happened: Press Release Falsely Claimed A $400 Million Purchase
Posted in: Today's ChiliOn Monday, news broke of a run-of-the-mill acquisition for Google: It was purchasing Rhode Island-based WiFi hotspot provider ICOA Inc. for $400 million.
The problem? Just the unfortunate fact that the news was completely, utterly false.
Here’s what happened: On Monday morning, PRWeb, a popular website on which companies distribute press releases, posted a notice (since taken down) announcing the “deal.” “ICOA Inc. Acquired by Google for $400 Million,” the release was titled, written in the dry prose that celebrates a supersized company gobbling a smaller firm for a stack of cash larger than many of us will ever see.
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