New York – Amid calls from some investors to shutter the business, AOL’s Patch hyperlocal news platform on Monday reported its most successful month ever in terms of traffic and revenue.
According to comScore, Patch served a record 11.7 million users in May – a 14 percent increase over April and 11 percent increase over its previous traffic record, which had been 10.6 million users in Aug. 2011. The monthly revenue of the business also finished 14 percent higher than its previous record in Nov. 2011.
“We are extremely gratified to see these measures of the traction we have gained in our communities and in our business since our launch just over 3 years ago,” said Jon Brod, the co-founder and CEO of Patch.
The news follows the recent announcement by Tim Armstrong, AOL’s chairman and CEO, that Patch will generate between $40-$50 million in revenue this year.
This article was also published in Potomac Tech Wire.
Patch – official home
AOL – press release