This paper employs both quantitative and qualitative analysis to explore the pragmatics of LOLin instant messenger (IM) conversations. Data were collected from 104 undergraduate studentswho engaged in both task-based and social IM conversations. Although LOL was initially anacronym for the phrase “laughing out loud,” this paper provides evidence that suggests that LOLhas become lexicalized (to lol) and can be understood as sharing characteristics typicallyassociated with discourse markers. Several recurring patterns of lol usage are described,including the stand-alone lol, transmission-final lol, and transmission-initial lol. While lol wasfound significantly more frequently in social vs. task conversations, but there were no broadgender differences in lol usage. However, dyad composition (mixed-sex vs. same-sex) didsignificantly affect frequency of use.