AOL Sunk $40 Million Into Patch in First Quarter: Expects Big 2011 Loss
Wow. AOL’s first quarter results are out and it looks like the company is spending some serious cash to get Patch up and running. We’re talking $40 million in the first few months of the year alone. As Forbes‘ Jeff Bercovici writes, “No wonder AOL is so eager to get folks writing for free for Patch.”
Bercovici was in on the earnings call and reports the company will likely lose $100 million on Patch in 2011.
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