Robin Wauters is currently staff writer for TechCrunch and lead editor of Virtualization.com. In addition to its activities, professional blogging, he is an entrepreneur, the organizer of the event, from time to time the Council consultant and an angel investor, but the most important champion of the full launch. He lives and works in Belgium, a small country in Europe. He can often be found work from their home or ... ? Read More
Local.com morning announced that it has a revolving credit fund of $ 12 million from square 1 Bank to finance future acquisitions and other "strategic growth initiatives.
The new square 1 Bank credit local media online company had ceased to Fund its debt with Silicon Valley Bank.
Last year Local.com purchased a domain advertising company OCTANE360 to $ 11 million, and this year by Nasdaq listed the purchase location, based on trade data aggegator Krillion for $ 3.5 million in cash and daily deals site Screamin' daily deals for $ 12.5 million in cash, stock and debt.
Earlier this year, the company also bought virtually all of the assets for a total purchase price Rovion about $ 2.2 million in cash.
Yesterday Local.com reported its Q2 2011 earnings, posting revenue of $ 15.6 million, a decrease of 7 per cent for the first quarter of 2011, income of $ 16.8 million.
Second quarter 2010 GAAP net loss was $ 5.4 million, or 25 cents per share, compared with the first quarter of 2011 GAAP net loss of $ 1.3 million or 7 cents per share.
Local.com ® was founded in 1999, the company's first product was a downloadable software application that users can use to search for products information on the Internet. Its second generation product was ...
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