WaPo: AOL to Invest $50M in Patch.com in 2010

The Washington Post is reporting that AOL plans to invest $50 million to expand Patch.com nationally by the end of the year.

The AOL network of hyperlocal sites currently has 50 sites in five states. The Post reports that the network has started looking for 75 editors for local communities in the Washington, DC area alone.

AOL officials declined to comment to the Post on their expansion plans. The Post says it pulled the $50 million figure from an annual report filed with the Securities and Exchange Commission.

Publish date: May 3, 2010 https://dev.adweek.com/digital/wapo-aol-to-invest-50m-in-patch-com-in-2010/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT