Merriman Capital Initiates on Local Corporation with a Buy Rating
SAN FRANCISCO - September 16, 2013 - Merriman Capital, Inc. ("Merriman"), a wholly owned subsidiary of Merriman Holdings, Inc. (MERR), announced today that it has initiated equity research coverage of Local Corporation ("the Company") (LOCM) at Buy and a $4.50 price target.
Headquartered in Irvine, California, Local Corporation provides a powerful & localized online search platform that leverages strong distribution agreements with the world`s leading web search gorillas: Google and Yahoo!/Bing. The company was founded under the name eLiberation in 1999 as a search aggregator working with a network of websites to publish national advertisements. It then launched a new web site, www.local.com, as an internal web portal, which shifted the company`s focus away from national advertisements to regionally-based ads. Now the company has grown further by leveraging this platform with established digital media companies across the country to create new local venues for online local search and advertising.
The company`s "owned & operated" (O&O) web portal, www.local.com, represents a powerful search engine and online shopping data aggregation platform. It can be used as a basic search platform to search for anything, especially if it is focused within a select location. When consumers use the platform coupled with its many regional media publishers, Local provides a wealth of community-based search data that sets it apart as a unique data resource.
About Merriman Capital, Inc.
Merriman Capital, Inc. is a corporate advisory-focused registered investment bank that provides equity and options execution services, market making, and differentiated research for high growth companies. The firm also provides capital formation, advisory, and M&A services. Merriman Capital, Inc. is a wholly owned subsidiary of Merriman Holdings, Inc. (MERR) and is the leading investment banking firm for unique high-growth companies. For more information, please go to http://www.merrimanco.com.
Merriman Capital, Inc. is a registered broker-dealer and member of The Financial Industry Regulatory Authority (FINRA) http://www.finra.org/ and the Securities Investor Protection Corporation (SIPC) http://www.sipc.org/.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K-A filed on April 30, 2013 and the Form 10-Q filed on August 14, 2013. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K-A filed on April 30, 2013 and the Form 10-Q filed on August 14, 2013, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."
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Director of Research
Merriman Capital, Inc.
Chief Compliance Officer
Merriman Capital, Inc
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