AOL Acquires Patch Media Corporation and Going, Inc
AOL has snatched up a pair of startup Web companies–Patch Media Corporation and Going, Inc–both of which operate sites geared for finding local entertainment and activities. Terms of the deal were not disclosed, but sources report that each company was priced at roughly $10 million.
Patch Media Corporation operates Patch.com, a local community site still very much in its infancy; currently Patch offers news and information on just five locations in New Jersey. According to several reports, AOL’s recently installed CEO Tim Armstrong had previously invested in the company personally.
Meanwhile,
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