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19:19

AOL's Patch will lose at least $100m this year and revenue is tiny

Business Insider :: AOL's local business, Patch, will lose at least $100 million this year and generate paltry revenues, according to documents we've obtained from a source. Analysts say that, during 2011, AOL CEO Tim Armstrong invested approx. $160 million into Patch, a network of 850 or local news blogs. His big bet was that AOL could, eventually, richly profit by filling one of the last remaining "white spaces" on the Internet by creating local content and selling local ads against it. 

How did the bet do this year?

Continue to read Nicholas Carlson, www.businessinsider.com

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