AOL has acquired two local online media companies Patch Media Corp. and Going Inc. in an effort to further build on its current local network.
Tim Armstrong
"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."
Armstrong was an early investor in Patch he told AOL employees in a memo and recused himself from the acquisition process. He also said he stood to make a profit on the sale of Patch but decided to forgo that and just receive his seed capital in AOL shares when it separates from
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