A roundup of today’s big stories in hyperlocal media, technology, advertising and startups.
AOL’s Armstrong Talks Patch Strategy in Q3 Earnings Call (PaidContent)
“When you talk to major auto makers, half goes into local and regional,” Armstrong said, saying that AOL will also be aiming more heavily at local retailers as the company works to make Patch profitable. Armstrong didn’t provide any clearer sense, however, when Patch would be evenly profitable, as opposed to the expectation that some parts of the network will do more than break even by the end of the year.
Groupon’s IPO Is Coming — But How Much Is It Really Worth? (GigaOm)
Colleen Taylor: It’s been a long and winding road, but Groupon is set to hold its initial public offering on the stock market any day now, with several reports saying the IPO will take place by week’s end. It will be interesting to see just how high Groupon goes once it actually hits the public market.
GeoIQ Releases Real-Time Streaming Local/Social API Platform (ReadWriteWeb)
Location data provider GeoIQ yesterday detailed a new offering called GeoIQ Social. This is a real-time streaming API that delivers location-enabled data from Twitter, Pachube-enabled sensor hardware and other platforms into a map-friendly output format that can be updated as the data changes.
Gilt City Acquires Daily Deal Site BuyWithMe (PaidContent)
Lifestyle and luxury daily deal site Gilt City, part of the Gilt Groupe, has shelled out on a new purchase for itself: BuyWithMe, once believed to be the third-largest daily deal site in the U.S. after Groupon and LivingSocial. The terms of the acquisition were not disclosed.
Womply’s New Deals Startup Loads Local Offers Onto Your Credit Cards (TechCrunch)
“Effortless Offers” is a new offers platform that links local merchants’ discounts to all major credit and debit cards. The service feels like a daily deal site for consumers, but works like targeted advertising for local merchants. The key differences between Womply and something like Groupon are that the offers are personalized for the consumers and are directed towards specific audiences.
The Groupon Investment Flow Chart! (BetaBeat)
Everything everyone has said about the wildly hyped billion-dollar valuations, the competition they face, the backlash to the backlash, and the inner-workings of the company will be put to the test of that mythical, nebulous creature known to the world at large as “The Market.” But what are you going to do about it? Here’s a handy chart to decide whether you should be a Groupon investor.