The ReachLocal IPO is a subject that was well expected in the local online advertising – the only question was when. Now that we have that answered what we expect? ReachLocal has a promising service and now has the money to back it up.
[ReachLocal Form S-1 is available to download at the end of this release]
First – what ReachLocal is… ReachLocal is a one-stop online advertising solution for roughly 15,000 small businesses. It’s revenues, profits, and financial show they now have a sliding change to become the leader and take over a majority of the market share among other local internet advertising providers. According to SEMShowdown.com, a SEM Review website, ReachLocal was recently awarded the Best Value for Mid-Size Companies as well.
With 525 sales people who generated $143 million in revenues the first three quarters of 2009, you can rest assured that ReachLocal’s plan will be to quickly vamp up an already prospering sales force to leach towards market share control.
Official Press Release:
., a local online marketing company, announced today that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of shares of its common stock. The shares of common stock to be sold in this offering are proposed to be sold by ReachLocal and certain stockholders. The number of shares to be offered and the price range for the offering have not yet been determined. J.P. Morgan Securities Inc. and BofA Merrill Lynch are acting as joint book-running managers. Citi is acting as lead manager, and Piper Jaffray & Co., Needham & Company, LLC and Broadpoint.Gleacher are acting as co-managers.
The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from J.P. Morgan Securities Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717; or BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Preliminary Prospectus Department.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement on Form S-1 may be accessed through the SEC’s website at edgar.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About: ReachLocal, Inc.
ReachLocal, Inc.’s mission is to help small and medium-sized businesses acquire, maintain and retain customers via the Internet. ReachLocal offers a comprehensive suite of online marketing and reporting solutions, including search engine marketing, display advertising, remarketing and online marketing analytics, each targeted to the small and medium-sized business market. ReachLocal delivers these solutions to SMBs through a combination of its proprietary platform and its direct, “feet-on-the-street” sales force of Internet Marketing Consultants and select third party agencies and resellers. ReachLocal is headquartered in Woodland Hills, CA, with offices throughout North America and in Australia and the United Kingdom.
What does this mean for competitors – Yodle, Idearc, DexKnows.com and other Local Online Advertising company’s? It means its time to step up your game, look at your offerings and find a quick solution to let small business owners your service is better – and why.