Three years ago, the future was wide open for AOL’s Patch project – which endeavored to compete in the new media marketplace against mainstream outlets and websites like the one you are reading now using a network of community-based blogs.
After launching with just three local sites in 2009, the network had grown to more than 100 news sites within a year – and announced plans to hire more than “500 professional journalists in more than 20 states” by the end of 2010. Today, the network claims to be active in “over 1,000 communities and counting.”
One of the states targeted by Patch? South Carolina … which featured thirteen of these local news outlets.
The only problem? People aren’t reading … which means advertisers aren’t spending money.
As a result, AOL announced on Friday it is laying off 500 employees at its Patch division – roughly half of all Patch employees.
Wow …
This is becoming a trend isn’t it? Incredibly well-funded internet-based news ventures come to South Carolina looking to take us out – only to get flat out PWNED. It’s exactly what happened with The Nerve, another new media outlet we eviscerated.
Reached for comment regarding the dire straits faced by yet another one of his new media rivals, FITS founding editor Will Folks (a.k.a. Sic Willie) offered up a quote from former Dire Straits frontman Mark Knopfler.
“Competition? Send ’em South,” he said. “They gonna drown put a hose in they’re mouth.”
Never heard the song? Enjoy …
“Boom, like that.”
36 comments
They still have 499 more employees than you.
har-de-har har hahahhahaha good one
and yet those 499 employees can’t turn a profit.
What’s more valuable, a company of 1 turning a profit or a company of 499 losing big money?
How do you know FITS is turning a profit? It’s not publicly traded, so I guess you’ll have to rely on the word of the “founding editor.”
Just guessing that no one is going to lose money for years on end at this level….I’m thinking he doesn’t have access to a fat credit line given the circumstances.
I feel pretty confident on my guess.
Perhaps he has other sources of revenue. You shouldn’t be so confident in that guess.
They still have 499 more employees than you.
har-de-har har hahahhahaha good one
and yet those 499 employees can’t turn a profit.
What’s more valuable, a company of 1 turning a profit or a company of 499 losing big money?
How do you know FITS is turning a profit? It’s not publicly traded, so I guess you’ll have to rely on the word of the “founding editor.”
—– but they don’t have US !!
—– but they don’t have US !!
they’re?
they’re?
Listen to AOL CEO Tim Armstrong Fire a Patch Employee in Front of 1,000 Coworkers
http://finance.yahoo.com/news/listen-to-aol-ceo-tim-armstrong-fire-a-patch-employee-in-front-of-1-000-coworkers-140600015.html
While I will agree 100%+ that it is not a core function of gubmint, this should be the law of the land. Public firing of employees that commit gross misconduct. Can anyone say McHardeeCastle Tuesdays!!!!!!! :)
Listen to AOL CEO Tim Armstrong Fire a Patch Employee in Front of 1,000 Coworkers
http://finance.yahoo.com/news/listen-to-aol-ceo-tim-armstrong-fire-a-patch-employee-in-front-of-1-000-coworkers-140600015.html
While I will agree 100%+ that it is not a core function of gubmint, this should be the law of the land. Public firing of employees that commit gross misconduct. Can anyone say McHardeeCastle Tuesdays!!!!!!! :)
So who is responsible for the 487 people laid off in states other than SC? Can you claim that young Folks?
This seems to be more of your self-importance and self-aggrandizement without proof.
I know, I know, you’ve already taken down The State, The Aiken Standard, The Charleston News and Courier, The Greenville News, The Myrtle Beach Sun News, The Florence Morning News, The Rock Hill Herald, The Spartanburg Herald Journal, The Orangeburg Times Democrat, The Sumter Daily Item, and The Washington Post.
Is The New York Times targeted as your next conquest?
So who is responsible for the 487 people laid off in states other than SC? Can you claim that young Folks?
This seems to be more of your self-importance and self-aggrandizement without proof.
I know, I know, you’ve already taken down The State, The Aiken Standard, The Charleston News and Courier, The Greenville News, The Myrtle Beach Sun News, The Florence Morning News, The Rock Hill Herald, The Spartanburg Herald Journal, The Orangeburg Times Democrat, The Sumter Daily Item, and The Washington Post.
Is The New York Times targeted as your next conquest?
Good riddance. Keep news local and homegrown.
Good riddance. Keep news local and homegrown.
Next couple two go are just starting up: coladaily.com and that Fig piece of garbage.
Already gone. Just get a sign up page. Nothing else.
Next couple two go are just starting up: coladaily.com and that Fig piece of garbage.
Already gone. Just get a sign up page. Nothing else.
Will: a town which cannot afford one lawyer can always afford two…Competition is a force-multiplier.
Will: a town which cannot afford one lawyer can always afford two…Competition is a force-multiplier.
Wait, so Patch and the Nerve were trying to compete against FITS? Wasn’t aware of that. Maybe I just missed the unsubstantiated rumors, deliberate lies, vicious mocking of people’s physical traits, celeb gossip, and pictures of hot women.
Wait, so Patch and the Nerve were trying to compete against FITS? Wasn’t aware of that. Maybe I just missed the unsubstantiated rumors, deliberate lies, vicious mocking of people’s physical traits, celeb gossip, and pictures of hot women.
Bad top-down strategy to grow too fast snd not organically. Got nothing t do with you, FITS.
Bad top-down strategy to grow too fast snd not organically. Got nothing t do with you, FITS.
Right idea…..wrong implementation…
Right idea…..wrong implementation…
The Patch sucked ass. Good riddance to it.
I hate to see Patch go. I enjoy the micro news environment that keeps me up to speed on things in my immediate area. I never considered them a competitor to something like Fits, to me they were like apples and oranges.