SEC Watch: ReachLocal Paid $8.5 Million For SMB Live
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ReachLocal is paying $8.491 million in cash and stock for SMB Live, the online reputation manager for small- and medium-sized businesses it bought in late February. Terms of the deal were not released when the deal was announced, but the purchase price was disclosed in a filing ReachLocal made with the SEC today.
SEE ALSO: Online Marketing Firm ReachLocal Files For $100 Million IPO
ReachLocal, which offers a suite of services aimed at small businesses who want to target potential customers online, has already paid out $2.758 million in cash for SMB Live; the remainder is contingent on employees staying with the company for the next two years.
The filing also provides some additional details on the financial state of ReachLocal, which filed for a $100 million IPO late last year. During the most recent quarter, the company’s revenue jumped 49 percent to $63.63 million. The company’s net loss, however, stayed flat at $2.25 million.
Posted In: Advertising, Local, Money, IPO, M&A & Venture Capital, Mergers & Acquisitions, reachlocal, smb live
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