AOL Plans To Spend $50 Million To Expand Patch

Posted May 6, 2010

AOL bought out Patch Media Corporation in June 2009. Patch is a local news and information platform that serves local towns. AOL is planning to hire an additional 290 people in an effort to expand Patch. They plan to get their 30 local blogs to hundreds by the end of 2010. The goal is “To be leaders in one of the most promising ‘white spaces’ on the Internet” according to BusinessInsider. AOL told shareholders through the SEC that they plan to spend $50 million to grow Patch. [BusinessInsider]