(1) Meaning "extremely local," it refers to news and information about events within a community. The term was coined with the advent of user-created journalism after the turn of the century as well as websites that publish only news and information such as real estate, cars and other items for sale, but targeted to a town or even a zip code. See
hyperlocal app.
(2) Targeting users in the vicinity, such as a smartphone app using GPS to notify the user that products or services are nearby.