Dive summary:
- AOL's Patch disappointment is just the latest in a string of failed hyperlocal ventures; see six hyperlocal attempts that crashed at burned. [see full list at AdWeek]
- Hyperlocal pioneer Backfence looked promising with $3 million in funding and 13 sites from Washington, D.C., to California, but the site struggled and closed its doors in 2007 after only three years.
- Village Soup, one of the longer running hyperlocal ventures founded in 1996, found a niche with readers, but couldn't stick with small businesses; the publication tried augmenting revenue with a few community weeklies, but was ultimately unsuccessful and threw in the towel in 2012.
From the article:
"Patch was founded by Tim Armstrong in 2007 before he purchased the company as AOL CEO two years later. The local news platform, which relies on editorial staffers around the country, still has around 600 people in place and maintains hope that it will not go the way of AOL's Seed, a paying open content submission platform that Armstrong & Co. killed off last year."
