AOL today announced two acquisitions in the local space: Patch Media Corporation, Patch, a local news and information platform aimed at serving local towns and communities and Going, Inc., Going, a local platform for people to discover and share information about things to do in a number of leading cities across the country. Both Patch and Going offer local experiences, content and self-service applications for consumers and advertisers.
“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.”
The acquisitions extend AOL’s network of local services, the largest online local network,* reaching more than 54 million total unique visitors per month.** Both acquisitions also leverage a consumer and marketplace trend toward greater consumption of news and information online.
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