AOL has hired Rachel Fishman Feddersen, the director of digital content and strategy for the Parenting Group, to serve as its first chief content officer for Patch, Reuters reports.Feddersen will be tasked with identifying the successful aspects of individual Patches and carrying those out across the whole network — a strategy that seems in line with AOL’s clustering of Patches into 30 distinct groups last year.
Although AOL CEO Tim Armstrong told Reuters that Patch’s revenue so far in 2012 already equals half of its revenue in 2011, the network still needs to improve its flat traffic and financial losses, which one analyst estimated to Reuters at approximately $150 million.
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