From Lost Remote today…
AOL is acquiring the hyperlocal blog aggregator Outside.in for $10 million, reports TechCrunch. That’s $4.4 million less than Outside.in’s total funding to date. As you might imagine, AOL plans to integrate Outside.in’s aggregation in Patch, its network of hyperlocal news sites.
The acquisition means that Patch can beef up its coverage through aggregation, which conceivably would include links to competing hyperlocal newspapers and blogs. Or similarly, Patch can reduce its original coverage by relying more on aggregation. Either way, today’s news illustrates that AOL is still invested in Patch’s success.
UPDATE 2: Mathew Ingram has a good take on all this on GigaOm.