AOL Buys 2 Web Cos.
NEW YORK 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 operates Patch.com, a local community site still 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 firm.
Boston-based
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in