An Update From Patch

Team —

Over the last three years, Patch has experienced substantial growth in all aspects of its operations. The metrics of our business are at record levels — traffic, audience (tripled since 2014), revenue, engagement — you name it. We’ve more than doubled the size of our newsroom — with more hires on the way — to improve the quality of our local reporting. Business development, national and local sales are at all-time highs, while platform revenue — from our classifieds and events products — is scaling at 30+% month over month sequential growth. Neighbor posts are likewise scaling. We are at the leading edge of using AI to create local content at scale. As the premier brand for hyperlocal news and conversation, we are also about to celebrate our fourth year of being cash flow positive, which safeguards our ability to connect people with the communities they love.

The person who has led this success for the last three years is our CEO Warren St. John. As editor-in-chief, he first helped transform Patch’s editorial team from a small but dedicated group of reporters to the formidable digital news operation it is today. And as CEO, he has led the growth of our business each year and overseen the major product innovations that continue to transform Patch.

Effective today, I have asked Warren to join the Patch board of directors, to assume the title of President, and to focus his duties on the areas that Patch needs as it continues to scale. These areas are (i) strategy, (ii) external and media relations, and (iii) strategic partnerships. Warren is the only person at Patch today who has the news credibility, knowledge, and passion to lead these areas. He is also extraordinary at them. All of us, and our readers, will benefit quickly and materially from his full-time focus on these areas.

Since Hale Global assumed the glorious and wild challenge of Patch in 2014, we have seen our job at HQ as moving the product and business model forward to support news and the talented and hard-working team that makes our news possible. This mission has never been more critical as other newsrooms continue to shrink, traditional local news staples regrettably disappear, and the integrity of media remains under assault. At the same time, our successes in product and on our business model have presented many new and exciting avenues for future growth, and added to the skills and strengths we require in order to continue to thrive.

As of today, I am extremely pleased to announce that Alison Bernstein will be joining Patch as CEO. Alison has spent 25 years on many sides of media and marketplace businesses, helping to launch and grow The Knot (and its affiliated businesses including The Bash) into the wedding powerhouse brand it is today. She’s held leadership positions across business development, marketing and product development. She is a focused, product-centric leader who is a natural prioritizer and exceptional decision-maker. Alison will capably and enthusiastically lead Patch to new heights. With her sense of humor and warmth, she’ll be a great addition to the Patch family.

Please join me in a congratulations for Warren and a warm welcome for Ali.

Sincerely,
Charlie

Charles Hale
Executive Chairman