Angie's List, Inc. Message Board

Local Corporation Reaches Record Overall, Mobile and Organic Quarterly Search Traffic
IRVINE, Calif.--(BUSINESS WIRE)--

Local Corporation (LOCM), a leading online local media company, today announced record total, mobile and organic search traffic for the third quarter 2012.

The company reached over 101 million total monthly unique visitors (MUVs) during the third quarter, up 10 percent from 92 million MUVs during the year ago period.

Mobile traffic also continued to grow, representing over 24.5 million MUVs during the third quarter 2012, up over 274 percent from 6.6 million MUVs during the year ago period.

The company reached organic traffic of over 39 million MUVs during the third quarter 2012, up 34 percent from 29 million MUVs during the year ago period.

http://finance.yahoo.com/echarts?s=ANGI+Interactive#symbol=angi;range=5d;compare=locm;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

Second quarter 2012 total revenue was $36.5 million, an increase of 74% from $21.0 million in the prior year period. Service provider revenue was the largest component of total revenue at $25.2 million and the fastest growing with a 94% growth rate. Marketing expense was up 52%, or $9.5 million, over the prior year period. Net loss was $23.4 million, with selling expense of $14.3 million and marketing expense of $27.6 million, compared to a net loss of $16.2 million with selling expense of $7.6 million and marketing expense of $18.1 million in the prior year period. Adjusted EBITDA, a non-GAAP financial measure, was a loss of $21.5 million, compared to a loss of $14.2 million in the prior year period.

Angie's List (ANGI) is a somewhat of an under-the-radar social media stock as it is overshadowed by Zynga and Facebook. It went public late last year and as Zynga and Facebook, the stock hasn't performed well. However, the growth for ANGI is phenomenal; revenue is expected to jump 72% this year and another 46% next year, making it one of the fastest growth companies on the market. The driving force behind that growth is the paid memberships as the company continues to add new members at a staggering pace.

For those unfamiliar with the story, Angie's List collects consumer reviews on local service providers ranging from home improvement to healthcare in more than 550 service categories. More than one million paying households in the United States rely upon Angie's List to help them make the best hiring decisions. Members get unlimited access to local ratings, exclusive discounts, the Angie's List Magazine and help from the Angie's List complaint resolution service.