WAN-IFRA

A publication of the World Editors Forum

Date

Thu - 18.09.2014


Patch hires chief content officer

Patch hires chief content officer

AOL can be proud of The Huffington Post. The ever-expanding blogging and news aggregation platform opened up in France last month, and is soon set to launch in Spain and Italy as well.

But not all of AOL's media properties are such model children. In 2007 AOL founder Tim Armstrong co-founded the hyperlocal news network Patch, but the $145 million AOL has put into the company after purchasing it in 2009 has not yet been recuperated. In fact, according to Reuters, RBC Capital Markets analyst Ross Sandler estimates that Patch has made a total loss of $150 million. Business Insider estimated Patch's losses last December somewhere around $100 million.

Media analyist Ken Doctor, quoted by Reuters, assess the situation: "Patch is underperforming. It is halfway from where it needs to be in terms of revenue and user experience".

For more on this story please see our sister publication www.sfnblog.com


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Author

Emma Goodman's picture

Emma Goodman

Date

2012-02-10 19:00

The World Editors Forum is the organization within the World Association of Newspapers devoted to newspaper editors worldwide. The Editors Weblog (www.editorsweblog.org), launched in January 2004, is a WEF initiative designed to facilitate the diffusion of information relevant to newspapers and their editors.


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