Patch CEO: 1 in 9 sites now profitable
AOL Inc. CEO Tim Armstrong announced Monday that one in nine of its Patch.com network of hyperlocal news websites is now profitable, according to SmartMoney.com.
Iowa has nine Patch sites, including five in Greater Des Moines suburbs of West Des Moines, Ankeny, Urbandale, Johnston and Waukee.
AOL has been under pressure from its stockholders to bring the network, started in 2009, to profitability by the end of this year.
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