AOL has acquired two companies in the local space: Patch Media, a New York-based local news and information platform providing local coverage for individual towns and communities and Going, a Boston-based local platform that lets users connect with other users/event-goers before, during and after events.
Both Patch and Going offer local experiences, content and self-service applications for consumers and advertisers.
The acquisition is expected to extend AOL’s network of local services, its online local network, reaching more than 54m total visitors per month. AOL said that the acquisitions also leverage a consumer and marketplace trend toward greater consumption of news and information online.
Tim Armstrong, chairman and CEO of AOL, said: “Local remains one of the most disaggregated experiences on the web today, there’s a lot of information out there but simply no way for consumers to find it quickly and easily. Going forward, local will be a core area of focus and investment for AOL. The acquisitions of Patch and Going will help us build out our local network further with local services that enable people to stay informed about what’s going on in their neighborhood.”
Jon Brod, CEO of Patch, said: “Patch, as part of AOL’s local strategy, will create opportunities for AOL to delight consumers and provide marketers’ access to targeted audiences.”
