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Patch Media

From Alfawiki
Patch Media
Company typePrivate
IndustryLocal news, Media
Founded2007
FounderTim Armstrong, Warren Webster, Jon Brod
Headquarters
Manhattan
,
United States
Area served
United States (all 50 states, Washington, D.C., United States Virgin Islands)
Key people
Rob Cain (CEO), Alison Bernstein (former CEO), Charles Hale (owner)
ProductsPatch.com (local news and information service)
OwnerHale Global
Number of employees
~150 (2018)
Websitepatch.com

Patch Media is the operator behind Patch.com, a local news and information service based in the United States with its headquarters located in Manhattan. The company is mainly owned by Hale Global and is managed by Planck, LLC, which conducts business under the name Patch Media.

By May 2024, Patch.com had expanded its reach to cover 1,900 communities throughout all 50 U.S. states, including Washington, D.C. and the United States Virgin Islands. Each community is supported by a lead journalist dedicated to delivering local news content, complemented by an "Across America" section that addresses national news topics.

The platform also facilitates user interaction by allowing individuals to submit local inquiries, news tips, and opinion pieces. Its business model relies on a combination of local and national advertising revenues, featuring a self-service advertising system that permits advertisers to directly target specific audience segments.

History

Patch was established in 2007 by Tim Armstrong, who was then serving as president of Google Americas, alongside Warren Webster and Jon Brod. Armstrong conceived the idea after noticing a scarcity of digital information about his hometown of Riverside, Connecticut. In 2009, shortly after Armstrong assumed the role of AOL CEO, AOL acquired Patch. Armstrong abstained from the acquisition negotiations and did not benefit financially from his initial investment.

The deal was finalized on June 11, 2009, with AOL paying approximately $7 million in cash as part of its strategic pivot from dial-up services toward content delivery. Following AOL's separation from Time Warner later that year, it invested over $50 million to broaden the Patch.com network. Post-acquisition roles included Brod becoming President of AOL Ventures, Local & Mapping, while Webster took on the presidency at Patch.

After being acquired, Patch experienced rapid growth and emerged as one of the largest employers of professional journalists in the United States. The number of markets increased dramatically from 46 to over 400 during 2010 and further expanded to 800 communities by early 2011. In 2011, Patch purchased Outside.in, a hyperlocal news aggregator, integrating its technology into the existing platform.

In 2013, Patch transitioned into a joint venture with Hale Global. The following January, the new ownership announced workforce reductions involving approximately 400 employees as part of organizational restructuring.

By February 2016, Patch reported having 23 million users along with profitability and continued geographic expansion. In 2018, it achieved its third consecutive year of profitability while attracting an average of 23.5 million unique monthly visitors. At that time, the company employed close to 150 staff members, including 110 full-time reporters drawn from prominent news organizations.

Alison Bernstein was appointed CEO in September 2019 before moving onto a board position; Rob Cain succeeded her as CEO in November 2020. In 2019, Charles Hale disclosed that Patch's network—which included over 1,200 hyperlocal sites—generated upwards of $20 million annually from advertising revenue without implementing paywalls.

External links

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