On Monday, the New York Times posted an article about how AOL will be winding down Patch.com’s operations. The New York Times pointed out that AOL CEO Tim Armstrong has a sentimental attachment to Patch.com since he created the service before joining AOL. He also persuaded AOL’s board to buyout the company in 2009.
?Mr. Armstrong had a sentimental, and some would say debilitating, attachment to Patch. He helped create it in 2007 while a senior executive at Google. When he got the top job at AOL in 2009, he persuaded the company to buy it. Patch then proceeded to churn through leadership, business models and write-downs on the way to its reduced state,? wrote The New York Times’ David Carr.
“We are talking to partners and it is not being shut,” stated AOL CEO Armstrong in an email to USA TODAY.