A roundup of today’s big stories in hyperlocal media, technology, advertising and startups.
AOL’s Armstrong: Some Patches DID Turn Profitable in 2011 (Forbes)
During a follow-up call with press after announcing AOL’s quarterly earnings, CEO Tim Armstrong said that the company did meet its long-held goal of coaxing some Patch sites into profitability last year, although he was careful to qualify that statement. “We don’t have a massive number of patches on a run-rate profitability, and some of them have bounced in and bounced out,” he said. Still, there’s your first peal of that “rolling thunder.”
LivingSocial lost $558 million in 2011 (Washington Post)
LivingSocial, the fast-growing daily deals site headquartered in Washington, lost $558 million on revenue of $245 million in 2011, according to a regulatory filing by Amazon.com, which owns almost a third of the company. The filing is the first glimpse into the financial workings at privately held LivingSocial, which is less than three years old and is expected to go public this year.
Luxury Flash Sales Sites Regroup After Layoffs (BetaBeat)
After bingeing on salaries and schemes, luxe deal sites start dieting. Can Gilt Groupe cross the IPO finish line without scuffing the lacquer on its Louboutins?
Mobile Ads Show Staggering Growth, Clicks up 711 Percent (GigaOm)
In just a 12-month span, inneractive has seen more than 700 percent jump in clicks and nearly the same in ad requests. If advertisers are still doubting the growth opportunity in mobile, this pretty picture ought to spell it out for them.
Loku Quietly Rolls Out Site Redesign (AGBeat)
The Austin tech startup reveals “what locals care about,” helping to make anyone feel like a local through their contextual search engine helps people find news, deals, businesses and events in a hyperlocal area using an algorithm that defines and ranks local content across the web uniquely.