Oops! AOL loses $315 million in value after agreeing to pay $315 million for HuffPo.

I guess this means investors think HuffPo is worthless.

The New York Post reported

You pay for what you get.

Arianna Huffington and Ken Lerer, co-founders of the Huffington Post, are said to be walking away with a combined $80 million to $100 million from an original $2 million per person investment — but so far AOL stockholders aren’t seeing that kind of return.

Since Feb. 1, the price of AOL shares has dropped from $23.85 to $20.89 at yesterday’s close.

With 106.7 million shares outstanding, that means AOL has shed $315 million in value over the last five trading days — which happens to be exactly the same price AOL agreed to pay to acquire HuffPo.