A roundup of today's big stories in hyperlocal content, commerce, and technology.... Reports: Facebook Is Buying Social Mapping/Traffic App Waze For Up To $1B To Court Mobile Users (TechCrunch)... Klout Dips into Q&A and Local Commerce with Launch of New Questions Feature (GigaOm)... Trulia Agrees to Buy Real-Estate Software Maker Market Leader For $355 Million (Wall Street Journal)...

Eric Lefkofsky, who is serving as co-interim chief executive with Ted Leonsis, opened the earnings call Wednesday evening with an apology to investors, admitting that the company had “spread [itself] too thin and failed to focus on things that will have the greatest impact.” Part of that extension, Lefkofsky admitted, was overinvesting in a secondary businesses like Groupon Goods at the cost of its more profitable local segment...

Daily Voice, the recently scaled-down regional network of 41 community news sites, filed for and won Chapter 11 bankruptcy protection this week. The move gives the company relief from an expensive class-action suit by two former reporters who said they and other Daily Voice staff worked overtime consistently but were never paid for the extra hours...

AOL’s hyperlocal media network Patch has rolled out its redesign from a handful of pilot communities to around 100 markets across the country, Tim Armstrong, AOL’s chief executive, said during an earnings call Wednesday morning. The move comes as AOL focuses in on Patch's model, pushing the closely-watched hyperlocal news network to reach run-rate profitability by Q4 of this year...

A week after scoring a big integration with Facebook, Yext has redesigned its mobile application to focus on content creation. The move comes as the company looks to transition its network from a tool for merchants to occasionally update a phone number or address across multiple properties to something akin to a content marketing network where brick and mortar businesses can create and distribute photos and posts from a single location...

Three months after laying off a quarter of its staff, Group Commerce has agreed to merge with its primary competitor, Nimble Commerce, in an all-stock deal, continuing the consolidation among white-label deal companies. Under the terms of the deal, Nimble Commerce CEO Prashant Nedungadi will lead the new firm, which will retain the Nimble Commerce name...

A roundup of today's big stories in hyperlocal content, commerce, and technology.... Twitter Updates Its Apps with New Trends Locations (TheNextWeb)... Square Hires An Exec From PayPal To Form Payments Partnerships With Retailers (TechCrunch)... Brownstoner Founder Jonathan Butler’s Venture-ing into Queens (Daily News)...

Shares of Yelp rose 10% in after hours trading Wednesday evening after the company reported strong top-line growth in Q1 2013. The reviews site grew its revenue by 67% year-over-year to $46.1 million in Q1, cutting its net loss in half to $4.8 million from $9.8 million a year earlier. The bump came on the back of a 81% jump revenue from local businesses as well as successful monetization efforts in nascent international markets.

Placed, a two year-old startup based in Seattle, has spent the last two years passively tracking the physical movements of over 70,000 smartphone owners who chose to share their location with the company. Today, the venture-back firm is opening that data to marketers, launching a Nielsen-like ratings service called Placed Insights to help advertisers intelligently buy location-targeted advertising...

A new survey, released by Telmetrics and xAd, indicates that there is increasing use of mobile devices by consumers as a part of their path-to-purchase, as well as increasing desire for local. The results found that 45% of consumers go to their mobile device first when starting a search. One-third said they used mobile throughout their purchasing process, two-thirds switched to another device or converted offline...