CNBC's Cramer: Aol is a Dot-Com Survivor

Calling AOL "the greatest Internet turnaround story you've never heard of," CNBC "Mad Money" host and Summit resident Jim Cramer told that story on his show Friday in a highly complimentary segment on the company's recent stock buyback that lasted more than seven minutes. 

"Everyone knows the ignominious history here but not many people are familiar with the incredible comeback," the fast-talking Wall Street said of the company, which owns Patch. "Over the last three years, AOL's terrific CEO Tim Armstrong has been aggressively trying to turn his company around, and lately I think he's succeeded."

"The new AOL is all about providing users with the kind of content they want to see and helping advertisers place the most effective online ads," Cramer continued, citing recent company successes that include AOL's "so smart" purchase of Adap.tv he predicted "will double the company's revenue."