When the going gets tough, the tough (or smart) get out and buy some lists.
Local search site and advertising network Local.com today announced the acquisition of approximately 14,000 local business advertisers from LiveDeal, Inc. for up to $3.1 million in cash. Details were quite sparse on how advertisers and Local.com would be connected, and how these advertisers will be integrated into the Local.com network - or if they even want to.
This acquisition moves the company closer to its stated goal of 50,000 small business customers by the end of 2009. The total of small business customers currently using the platform is 30,000 - including the 14,000 just acquired - and expanding it increases the potential to more quickly monetize the Local.com site and its broader network. You have to wonder about the quality of those advertisers and their interest in participating in the Local.com network.
The acquired customers will pay approximately $33 per month (that's $396/year for the mathematically challenged) for a Local Promote™ listing (the company's entry-level advertising product) on Local.com and select sites.
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