Peter Krasilovsky's

Local Onliner

Mar 18
2010

AOL Sets up $10 Million Venture Fund for Local Startups


Paid Content reports that AOL Ventures is creating a $10 million venture capital fund for local startups. The fund expects to support the “increasing number of startups” in the market. AOL Ventures had previously announced that it is spending $50 million this year to launch Patch.com in “hundreds” of communities.

The company also announced it will relaunch its “City’s Best” entertainment guides in 25 cities, while adding geo-targeted local content to AOL.com. In its announcement, AOL CEO Tim Armstrong says that the local space online is “an untapped market for the most part and one of the largest commercial opportunities online that has yet to be won.”

AOL Ventures EVP Jon Brod is the opening keynote at Marketplaces 2010 next week in San Diego.

Categories: HyperLocal, Money

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    Adam Japko, CEO, Digital Sherpa
    Maria Kermath, Dir., New Tech, AT&T Advertising Sales
    Mark Josephson, SVP, AOL Local
    Charlie Kim, CEO, Next Jump
    John McIntyre, CEO, Pixelfish
    Scott Maxwell, Sr. Managing Director, Open View
    Randa Minkarah, SVP, Revenue, Fisher Communications
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    Mark Schmulen, GM, Social Media, Constant Contact
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    Thanks for coming to my personal site. Most of the content on this site is also found on BIA/Kelsey’s Local Media Watch, which includes material from other BIA/Kelsey analysts. I am a Vice President with BIA/Kelsey, and am focused on the Marketplaces research program.

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