GoLocal24 Closes Second Round of Financing Led by Cork Media and Angel Street Capital
Tuesday, December 27, 2011
“GoLocal24’s business model aligns with how consumers live their lives. They seek high value content. They live online, on tablets and on mobile,” said Josh Fenton. In Providence, GoLocal24’s first market, daily use of GoLocal’s content exceeds that of the Providence Journal’s print weekday paid circulation.
“Traditional media continues to slash their content which reduces their value to their readers, listeners and viewers — then are shocked that they continue to lose audience and circulation. GoLocal is driven to provide superior local content via a digital platform in a sustainable and profitable cost structure,” said Bob Maccini, Partner in Angel Street Capital. “We love that they have been able to create a model that creates engagement with the consumer – this is scalable and profoundly altering to the media model.
“GoLocal24 is the epitome of the disruptive innovator. We have developed a model for creating an ecosystem of content-driven relationships in a mid-size market,” said Josh Fenton, Co-Founder and CEO of GoLocal24.
With the decline of circulation of newspapers and the corresponding demand by consumers for news and information via digital – GoLocalProv has grown to be one of the nation’s most successful destination digital media models in only 18 months of operation. GoLocal24 will be announcing its next market in the first quarter of 2012.
Impact of GoLocal in the Rhode Island media market for the previous 30 days:
The site received more than 206,000 unique visits.
The site has generated over 500,000 page views monthly – an increase of 250% year over year.
More than 20% of the monthly traffic is derived from Facebook.
Average visit to site is over 8:40 minutes.
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- Business Insider - National Business Site Features GoLocalProv