ReachLocal rang the opening bell at the NASDAQ stock exchange yesterday:
Perhaps in honor of today’s date, shares are trading at just over $14. The company’s market cap is $393 million.
The company, as of Q2, had 641 salespeople and $70 million in revenue. Approximately $52 million was from direct local ad sales.
ReachLocal reported 16,700 “active advertisers” at the end of Q2 as well.
September 15th, 2010 at 1:56 am
Well done ReachLocal! I use these guys (in Australia) and they are awesome. Used to rely wholly on Yellow Pages, but most of my leads come directly from ReachLocal now….If they continue their performance I might have to get me some shares.
September 16th, 2010 at 4:04 am
[...] On his Screenwerk blog, Greg Sterling covers local online advertising company ReachLocal finally ringing the bell at the NASDAQ Market Site in New York City on Tuesday. ReachLocal has been public since May. Sterling writes Tuesday, "Perhaps in honor of today’s date, shares are trading at just over $14. The company’s market cap is $393 million." The ticker is RLOC. See the happy RLOC people. [...]
September 16th, 2010 at 11:54 am
Congrats to the Reach Local team. This is one of the most crowded ‘bell-ringings’ I have seen in awhile. Seems there is at least 20 people on the main stage. Having a big crowd fits the theme for these guys and what they do, especially given the size of their sales team and number of Advertisers.