14 DAY TRIAL // AOL has announced the acquisition of two businesses to help it bring a local online experience to its users, namely Patch Media Corporation and Going, Inc., which already offer services with a local focus. The former is a local news and information platform while the latter provides local content and self-service applications. The acquisition of the two comes as AOL is facing uncertain future and a major restructuring as it is being spun off from its parent company Time Warner.
“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,” said Tim Armstrong, AOL’s chairman and CEO. “It’s a space that’s prime for innovation and an area where AOL has a significant audience and a valuable mapping service in MapQuest. 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 excellent local services that enable people to stay better informed about what’s going on in their neighborhood.”
Patch Media Corporation was founded in 2007 and offers content by professional journalists but also a way for the communities to contribute to making local news a much more interactive experience. The company is already present in five towns and is expected to service twelve communities by the end of the year.
“We are excited to join the AOL family,” said Jon Brod, CEO of Patch. “AOL’s substantial network will help us extend the reach of Patch into more and more communities. And Patch, as part of AOL’s local strategy, will create new opportunities for AOL to delight consumers and provide marketers access to highly targeted and deeply engaged audiences.”
Going, Inc. was founded in Boston in September 2006 and offers a local platform for young people in cities across the US. It is currently available in 30 cities including New York, Los Angeles, Chicago, Miami and Boston and plans to launch the service in several more.
“Going allows young people in leading cities to discover upcoming events, parties and new hot spots - and most importantly connect with others who share a similar lifestyle. By joining with AOL, we have the opportunity to greatly expand the reach of our platform to more cities both in the U.S. and around the world," said Evan Schumacher, Going's CEO.