Facebook and its underwriters face IPO backlash, the SEC indicates it will target VaR, and more in today’s Wall Street roundup.
Facebook flap: Research teams at Morgan Stanley and other Facebook underwriters cut earnings projections after updated regulatory filings on May 9 showed Zuck & Co. struggling to make money on mobile—and those adjusted Read More
Annals of Sent Mail
We can’t say we envy whoever’s behind the wheel of Patch, AOL’s network of hyperlocal news sites. With a torrent of bad press; a prettier, more popular sister in The Huffington Post, and executives resorting to (allegedly) defending the company in the Business Insider comments section, it’s likely Team Patch in need of a morale boost. But it’s hard to know how to make a generous statement of your confidence in the company without awakening some sales exec’s dormant inner frat boy.
That has such monetization strategies in it!
AOL struck a deal with American Express to use Serve, which is AmEx’s competitor to PayPal, on Patch Deals, which is Patch’s competitor to Groupon, according to a press release sent out this morning. And we bet their user-feedback is much more advanced than the originals.
Hearst magazine websites Read More
“An explosion of online news sources in recent years has not produced a corresponding increase in reporting, particularly quality local reporting, a federal study of the media has found,” wrote New York Times reporters, Jeremy W. Peters and Brian Stelter. They then high-fived David Carr, hate re-tweeted a Patch story about the Stony Read More
The LA Times published a softball appraisal of AOL glocal news behemoth Patch this weekend, which attributes the site’s take-off to the recruitment of “seasoned news veterans.”
Patch’s first round of hires were fresh journalism school graduates who quickly burned out or turned over, James Rainey reports. Three South California-area Patch editors quit less Read More
After receiving approximately $50 million in funding from AOL, the hyperlocal news network Patch.com went on a hiring spree that earned it the ire of alt-weeklies and the nickname ”Poach” from one rival.
Trepidation about the rapid rise of Patch hasn’t been limited to its competitors. Though few other companies are making widespread hires, journalists seem Read More
Today, June 11, AOL annouced that it is acquiring Patch, the New York–based start-up, as well as Going.com, a nightlife event guide “for people who love to go out.” Patch’s sites, which currently cover six towns in New Jersey (with four more in development, according to Patch’s chief executive Jon Brod) are hyperlocal neighborhood Read More
Today The New York Times Business section featured a front-page profile by Claire Cain Miller and Brad Stone of a bunch of start-up blogs that are trying to do some start-up journalism.
“If your local newspaper shuts down, what will take the place of its coverage? Perhaps a package of information about your neighborhood, or Read More
Patch, the New York–based, hyperlocal start-up co-founded by Tim Armstrong, Google’s vice president of advertising sales AOL’s new chair and chief executive, is expanding their coverage into three more New Jersey locations: Summit, Westfield and Scotch Plains.
On Feb. 6th, Patch launched three hyperlocal news sites in South Read More