Published 29th September
Touch Local have acquired from ITV 100% of the share capital of Enable media who operate Scoot and AskAlix in the UK. Established in 2004, TouchLocal is backed by Balderton Capital, the leading Venture Capital Firm.
The key benefits of this acquisition are as follows:
1. A combined paying customer base in excess of 25,000 local business advertisers on annual subscriptions and growing at 8% per month.
2. More than 2 million UK businesses listed, 500,000 of whom have activated their profiles.
3.Over 3.5m uniques and 6m searches per month. Generating over 8m calls to SME’s per year.
4. A field and telesales team in excess of 130 people and a really established platform for further aggressive growth.
5. A forward combined revenue run rate in excess of $32m and EBITDA in excess of $7.5m.
6. A significant move forward in annual renewals rates that can exceed 80%.
7. Strengthening of distribution strategy that will enable more exclusive partners to be added this year in addition to our local search partnership with AOL.