A roundup of today’s big stories in hyperlocal content, commerce, and technology.
Yelp CEO Takes $1 Salary (CNET)
Add Jeremy Stoppelman, chief executive of business reviews site Yelp, to the list of CEOs who are willing to work for $1. Stoppelman will take a $1 base salary for 2013, according to information in Yelp’s 8-K document filed today with the Securities and Exchange Commission.
Patch Misses 2012 Revenue Target (Street Fight)
AOL’s network of hyperlocal sites missed the $40 million to $50 million revenue target that the company had set for last year, a miss that CEO Tim Armstrong attributed to disruption from superstorm Sandy in the fourth quarter during a Friday earnings call. The company remains committed to achieving run-rate profitability for Patch by the end of this year.
The World’s Top 10 Most Innovative Companies in Local (Fast Company)
Fast Company’s staff put together a list of the most innovative companies in local, which ranges from familiar startups in Foursquare and Nextdoor to retail kings like Target. American Express even cracked the top five for finding deals for cardholders by tapping transaction history.
How to Scale Local, and Stay Entrepreneurial (Street Fight)
Tom Grubisich: The Alternative Press, which quickly grew to 15 sites in suburban New Jersey (three wholly owned and the rest licensees), is now hoping to replicate that success by growing into a network of 100-plus sites. That’s almost twice as big as the footprint of corporate pure play Daily Voice and in the same league as networks operated by the Chicago Tribune (TribLocal) and Denver Post (YourHub)
Why Daily Deals Aren’t All Bad (No, Really) (PandoDaily)
Patrick Dillon:At the end of 2012, there were only a couple top providers operating profitably and gaining market share. The rest have closed down, stopped accepting new clients, or diverted resources to new projects. However, merchants are still in search for a low-cost way to reward regular customers for their purchases. So what should publishers and merchants be focused on in 2013?
After Boom and Bust, How Will the Discount Economy Evolve? (Street Fight)
Prashant Nedungadi: The discount industry experienced 2012 as a major turning point. In the past 12 months, the deal provider landscape shook out even more, with the consolidation of many deals sites and the decline of some industry giants. Given the changed landscape, here are a few predictions about where the local offer and voucher space is heading.
Best Advice I Ever Got: Trevor Sumner (Inc.)
Start-up founders and employees have raw talent, but need real mentorship to thrive. The founder of LocalVox offers a few choice words of wisdom for ambitious self-starters hunting for a mentor.
RepairPal Gets $13M to Pair You With the Right Mechanic (PandoDaily)
RepairPal, an online auto repair recommendation service, announced $13 million in venture capital funding from Castrol innoVentures and Cars.com. RepairPal matches the user up with a local repair shop that fits the standards of the website – including a technical certification and a focus on customer reviews.
The Geosocial Universe 3.0 (Forbes)
With changes to the social landscape occurring at lightspeed, JESS3 presents its third iteration of The Geosocial Universe, charting the latest monthly active user data for various social networks, along with the percentage of users who access each network via mobile devices. We saw an influx of new mobile apps as location-based networks like Loopt, Brightkite, and Gowalla went gently into the night.
Postmates Will Expand Its ‘Get It Now’ One-Hour Delivery Service to Seattle, Its Second City (The Next Web)
Postmates, the local courier service that allows users to track their deliveries using their smartphone, is bringing its Get It Now service to its second city: Seattle. Think about it like Uber for courier delivery: not only can you order whatever it is you need through the smartphone, but you can also track its pick up and delivery and pay for it right from a device, no cash required.