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AOL's Patch Plans 500 Local Sites, Strengthens Ad Base

AOL intends to grow its Patch network of community news sites to include more than 500 neighborhoods by the end of December -- a move the struggling Internet company hopes will strengthen its online ad business. AOL CEO Tim Armstrong came up with the idea for Patch in 2007, while he was still an executive at Google Inc., and was an early stakeholder in the company. When AOL bought Patch, Armstrong said that he wouldn't take a profit from the deal and instead his initial investment would be repaid in AOL stock once AOL became independent of Time Warner.

Patch launched its first three Web sites in early 2009. Patch sites now serve communities in eight states, including Skokie, Ill. and Mill Valley, Ca.; by the end of the year, AOL plans to have Patch sites in 20 states.

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