As AOL chief executive Tim Armstrong looks to pull his struggling Internet access business out of the doldrums, he’s investing heavily—to the tune of $40 million in Q1 of 2011 alone—in hyperlocal news operation Patch.com. For those not in the know about Patch, it’s a community-specific news and information platform that provides local news coverage for individual towns and communities. At press time, the number of towns/communities served stands at more than 850, with editors/reporters at over 1,000. An interesting nugget on the Patch blog: there’s a new piece of original Patch content published every 12 seconds.
Despite Shaky Business Model, Hyperlocal News Opps Abound
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