Local.com aussichtsreich

http://www.alliednevada.com/wp-content/uploads/...n-Filed-4.24.15.pdf  

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Stuttgart   15.000 0,022 €  




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if Acuta overtake Local Coro and builid out Local Corp as fifth platform

“Too Late for a Great Little Company ”

Former Employee - Engineer (Not Specified) in Irvine, CA

I worked at Local Corporation full-time

Pros
Local had a unique and very positive company culture: smart, talented, friendly people great work-life balance it supported it employees who were going through difficult times These things were reflected in the unique phenomenon of frequent re-hires, it was a common event for people to leave the company for other opportunities, but return later. For awhile it had hit upon a very profitable business model. For the last couple of years it was pursuing exciting new business lines and technologies.

Cons
Ad arbitrage, its cash cow for years, was its downfall. As often happens, it let its one big success dominate the company for too long, leading to failure. This was always a vulnerable business model, and when things finally turned against it in a big way, it was caught unprepared. It did attempt diversification while flush with cash, but the decisions made by the C-suite were stunningly bad. The company tried to grow by acquisitions, rather than relying on their superior technical staff to develop and diversify its offerings. And all of the acquisitions were stunningly bad decisions, done without due diligence (e.g. the technology of an acquisition was never evaluated), and then mismanaged: wasting money, resources and more importantly time. The company was always plagued with top-heavy management, too many layers of executives, and particularly harmful for an adtech company - only in the last two years did it get a technology executive who was competent. All of the previous VPs, Senior VPS, and Executive Directors of technology were incompetent and demoralizing for the engineering team (but as public SEC filings show, made huge salaries) and accomplished nothing .

Source: glassdoor

 

Programmatic Represented 52% Of Display Ad Spend In 2014
         •§by Tyler Loechner @mp_tyler, July 20, 2015, 3:34 PM

U.S. marketers spent $10.1 billion through programmatic ad technologies last year, representing over half (52%) of the digital display market. The $10.1 billion figure also accounts for 20% of last year’s overall Internet ad revenues in the U.S.
The data comes from the Interactive Advertising Bureau’s (IAB) first-ever programmatic revenue report, prepared by PwC US.

The report also found that while private exchanges and “programmatic direct” technologies began to take hold last year, the programmatic marketplace was still dominated by open exchanges. Per the IAB’s report, approximately 70% of programmatic revenue -- or $7.07 billion -- came from open auctions. The report does, however, note that the shift toward private exchanges and programmatic direct technologies is alive and well.

Also rising are mobile and video ads sold via programmatic, but display banner ads still reigned supreme last year. The IAB’s report notes that display banner ads made up approximately 80% of programmatic revenues last year, a number that should to decline over time in favor of mobile and video.

Paul Alfieri, SVP of marketing at Turn, told Real-Time Daily that according to Turn’s internal data, mobile and video advertising worldwide has more than doubled in the first half of 2015, indicating that the shift is well underway.

Mehr unter: http://www.mediapost.com/publications/article/...play-ad-spend-i.html
 

"This kind of ecosystem that combines carrier hotel/interconnection with data center capacity so that a variety of network types -- public, private, wireless, wireline cable and satellite -- come together with access to content and applications is becoming critical to many markets, he adds.


http://www.lightreading.com/data-center/...ket-booming/d/d-id/713128"  

hinsichtlich dessen, was man z.B. im Text im nachfolgendnden Posting lesen kann:

http://www.clickz.com/clickz/column/2380536/...iness-will-you-survive

We're at the beginning of a major digital transformation - the advent of the Internet of Things. How will you adapt and react to the new technology available?

I was recently asked by a digital marketing research firm to provide comments for an upcoming report on the implications of the Internet of Things (IoT) for digital marketing. While I've been fascinated by the exploding world of wearables, sensors, and connected objects, I hadn't yet had the chance to dive in. I jumped at the opportunity.

I won't go into detail on what IoT is or how the world of connected objects has the potential to disrupt almost every business on the planet. Nor will I predict the winner of the wearables war or rant about the usefulness of a connected slow cooker - it's high! But I will share my thoughts on how marketers must begin to prepare for a world where we - and our competitors - have access to remarkable streams of high-value customer data and bear the responsibilities that come with it.
 

http://www.financierworldwide.com/...-11-emerged-entity/#.Vcyl6HkVgdV  

However, with market conditions having steadily improved over the past few years, an increasing number of companies are successfully navigating their way through the Chapter 11 maze to emerge as restructured entities. According to the most recent figures compiled by FTI Consulting, 550 companies have emerged as reorganised entities since 2010.  

The US Division of Rakuten should buy Local Corp (like 10 years ago Linkshare from Internet Capital/Actua) for an overtake of debts of less than 20 million and an offer of shares of Rakuten to the existing shareholders of Local Corp for additional 20 - 30 million.

CLEVELAND, OH – March 19, 2015 — OverDrive, Inc., the leading eBook, audiobook and streaming video platform for libraries and schools, today announced it entered into an agreement to be acquired by Rakuten Inc., one of the world’s largest Internet services companies. Insight Venture Partners has been the majority shareholder of OverDrive since 2010. OverDrive (will operate as a subsidiary of Rakuten USA and will work closely with other Rakuten companies.

Rakuten USA, headquartered in Boston, is the United States operating division of Rakuten. Rakuten companies provide a variety of consumer and business-focused services including eReading (Kobo), e-commerce, instant messaging (Viber), and others in the US, Canada and around the world. Since 2012 has been ranked among the world’s “Top 20 Most Innovative Companies” in Forbes magazine’s annual list.
As part of the Rakuten family, OverDrive will take advantage of the global reach, scale and technologies throughout Rakuten’s portfolio. Once the transaction closes, OverDrive will operate as a subsidiary of Rakuten USA, and continue to be led by CEO Steve Potash, with its headquarters in Cleveland, Ohio. Kobo, headquartered in Toronto, Canada, and OverDrive will work together to enhance their abilities to deliver world-class digital content and reading technology services. The acquisition is expected to close in the next thirty days.

“I am excited for OverDrive to be part of the dynamic group of market leading e-commerce and digital media companies that Rakuten CEO Hiroshi Mikitani has assembled,” said OverDrive CEO Steve Potash. “From OverDrive’s world headquarters in northeast Ohio to the 50 countries in which our library and school partners reside, we will continue to connect readers with books and institutions by supporting all users and all popular devices, while promoting open industry standard formats and best practices. We look forward to working closely with the Rakuten companies.


We’ve heard PopSugar is the latest online content company that Japanese conglomerate Rakuten is about to snap up. These things could always fall apart, but should the deal go through, we’re told it will happen in the next couple of weeks and that Rakuten will buy PopSugar for $580 million.

To put this in perspective, AOL bought the Huffington Post, putting forth a combined 117 million unique U.S. visitors per month at the time for $300 million in 2011. PopSugar gets about 41 million unique visitors per month, according to the site.

While that seems like a huge purchase price for an online celebrity news site, it follows on the heels of several other pricey content acquisitions for Rakuten in the last couple of years, including digital content distributor OverDrive for $410 million last month. We’re told that Rakuten gets a lot of inbound acquisition requests and that it is willing to pay top dollar for digital content companies, in particular.

According to a source familiar with the matter, PopSugar has been shopping itself around for the last couple of months and Rakuten, with about $16 billion in the bank, looked like a lucrative choice to the online media site.


Rakuten bought Ebates in 2014 for 1,000 million.


ICG ANNOUNCES LINKSHARE’S AGREEMENT TO BE ACQUIRED BY RAKUTEN, INC. FOR $425 MILLION

Wayne, Pa – September 6, 2005 – Internet Capital Group, Inc. (Nasdaq: ICGE), today announced that its partner company, LinkShare Corporation, and Rakuten, Inc. (JASDAQ: 4755), entered into a merger agreement pursuant to which LinkShare would be acquired for approximately $425 million in cash. Rakuten is Japan’s most diversified Internet portal with the number one sites in Japan for on-line shopping, travel, golf reservations, community and greeting cards. The transaction is expected to close within four to six weeks, subject to customary closing conditions.

 

für die Aktionäre bei einer derartigen Lösung wesentlich höher sein als die dürftigen 3,1% bei Hercules offshore, aber dass dann eine Verwässerung stattfindet steht auch fest - alles unter 20% würde mich negativ überraschen.

Business Bankruptcy Headlines for 8/14/2015

Hercules Offshore Chapter 11 Petition, Plan Filed
Hercules Offshore and 14 affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 15-11685. The Company, which provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry, is represented by Robert J. Dehney of Morris, Nichols, Arsht & Tunnell. On July 13, 2015, the Company announced that it had reached agreement on the terms of a prepackaged restructuring. Under the restructuring, more than $1.2 billion of the Company's outstanding senior notes would be converted to 96.9% of new common equity and $450 million in new debt financing would be provided by those holders of the senior notes who wish to participate on a pro rata basis (with the full amount backstopped by certain members of the steering group of noteholders), which would fully fund the remaining construction cost of the Hercules Highlander and provide additional liquidity to fund the Company's operations. This Chapter 11 filing follows completion of the solicitation process with senior noteholders, under which senior noteholders voted overwhelming to approve the Prepackaged Plan, which was filed along with the bankruptcy petition. The restructuring also provides for the Company's current shareholders, to have the opportunity to receive a pro rata portion of the remaining 3.1% of the new common equity, as well as certain warrants, subject to the requirements of the Plan and Court approval. Hercules Offshore's president and C.E.O., John T. Rynd, comments, "Today's filing is the next step in our financial restructuring. We are working toward a new capital structure which will provide a better foundation for Hercules to meet the challenges in the global offshore drilling market due to the downcycle in crude oil prices and expected influx of newbuild jackup rigs over the coming years."

http://www.bankruptcydata.com/bankruptcydatanewsnew.asp
 

The best solution could be: Through a sale of the 14 valuable patents (with agreements that Local Corp can use for offers needed patents for free or against a fee) could paiy back all debts and Fred Thiel will lead the company in the future.  

Enter Google with "cmaextras/Carl-Marks-Competition-American-Airlines"

This situation is by Local Corp a lot better, because the assets was a lot higher, when Local Corp filed Chapter 11.

Capital structure at filing and Claims by AMR
At the time of the filing AMR Corp had $29.5B liabilities compared to only $24.7B Assets, a shortfall of $4.8B.

The assets of Local Corp was at 03/31/2015 with 37 million about 12 million bigger than the debts of about 25 million - a rare rituation by a filing of Chapter 11. General Motors had for example the 3-fold of debts than assets, as they filed Chapter 11.

But now the biggest surprise for you: The value of the high valuable 14 patents of Local Corp is not part of this 37 million, because they were near all developed with the noney of the existing shareholders of Local Corp . By such self-developed patents can the company decide, if this patents were counted as assets or not - and Local Corp don't count the self developed patents with high value as assets. Local Corp had never done a capitalization of development costs for the14 valuable patents.

If Local Corp had done such a capitalisation, the difference between assets and debts would be a lot higher than the amount of 12 million from the first lines.

Hidden reserves: If the patents were capitaliized, toom the differend between assets and debts would be between 50 and 100 million.
 

Hidden reserves: If the patents were capitaliized, too, the difference between assets and debts would be between 50 and 100 million or higher

by stannguru • 16 seconds ago  Are you sure?YesNo
.

The assets of Local Corp was at 03/31/2015 with 37 million about 12 million bigger than the debts of about 25 million - a rare rituation by a filing of Chapter 11. General Motors had for example the 3-fold of debts than assets, as they filed Chapter 11.

But now the biggest surprise for you: The value of the high valuable 14 patents of Local Corp is not part of this 37 million, because they were near all developed with the money of the existing shareholders of Local Corp . By such self-developed patents can the company decide, if this patents were counted as assets or not - and Local Corp don't count the self developed patents with high value as assets. Local Corp had never done a capitalization of development costs for the14 valuable patents.

If Local Corp had done such a capitalisation, the difference between assets and debts would be a lot higher than the amount of 12 million from the first lines. If the patents were capitaliized, too, the differend between assets and debts would be between 50 and 100 million or higher.
 

http://www.nquerybylocal.com/  

Local Corp with nQuery by Local excellent positioned: IoT is coming faster than you think

Here’s a prediction: the marriage of the Internet of Things and local search marketing will spell the death of the billboard. Who needs such relatively untargeted shouts when you can have precise gentle whispers?

Here’s the reality: the truth is that what seemed like an ambitious idea and a brave vision a few years ago is already beginning to become a reality. The Internet of Things is seeping into the mainstream slowly but surely.

Samsung CEO BK Yoon promised that by 2017, yes 2017, 90% of his products will be capable of taking advantage of hardware interconnectivity. He exclaimed that you can forget science fiction: this is science fact.

Smart devices and an increasingly interconnected world are coming, and the future is probably closer than you think. Let’s place my own interests to one side and hope it brings benefits to all. And not just to search marketers.
 

Enter Google with "cmaextras/Carl-Marks-Competition-American-Airlines"

This situation is by Local Corp a lot better, because the assets was a lot higher, when Local Corp filed Chapter 11.

Capital structure at filing and Claims by AMR
At the time of the filing AMR Corp had $29.5B liabilities compared to only $24.7B Assets, a shortfall of $4.8B.

The assets of Local Corp was at 03/31/2015 with 37 million about 12 million bigger than the debts of about 25 million - a rare rituation by a filing of Chapter 11. General Motors had for example the 3-fold of debts than assets, as they filed Chapter 11.

But now the biggest surprise for you: The value of the high valuable 14 patents of Local Corp is not part of this 37 million, because they were near all developed with the noney of the existing shareholders of Local Corp . By such self-developed patents can the company decide, if this patents were counted as assets or not - and Local Corp don't count the self developed patents with high value as assets. Local Corp had never done a capitalization of development costs for the14 valuable patents.

If Local Corp had done such a capitalisation, the difference between assets and debts would be a lot higher than the amount of 12 million from the first lines.

Hidden reserves: If the patents were capitaliized, too,  the differemce between assets and debts would be between 50 and 100 million.
 

Still, since 1991, Trump-related companies have filed for corporate bankruptcy four separate times. Filing for Chapter 11 bankruptcy allows a corporation—which is legally distinct of its shareholders, owners, board, and C.E.O.—to stay in business while it re-structures and attempts to reduce its debt. So, while he’s been able to keep his personal finances in order, the businesses that so proudly trumpet his billion-dollar name are something of a different story. In preparation for Trump’s time on the national stage, here’s a closer look at those filings.

1991, Trump’s Taj Mahal in Atlantic City
This is the one where The Donald’s fortune was actually in any danger. After financing much of the construction of the casino with junk bonds, the luxe facility was in debt, and so was he. (Exactly how much is up for debate; the Times pegged his personal liabilities at $900 million.) In order to escape potential doom, Trump’s corporation filed for Chapter 11 bankruptcy, which allowed him to reorganize the debt while the casino remained open. The real-estate tycoon ended up taking a substantial hit this time, as he was forced to relinquish half his stake in the casino and sell his yacht and airline to pay back loans.

1992, Trump Plaza Hotel in Atlantic City
In his second swing at bankruptcy, Trump was able to insulate himself from any real harm, for the most part. This time it was the Trump Plaza Hotel that was hemorrhaging cash, having lost over $550 million. Ever the negotiator, the entrepreneur agreed to give up a 49 percent stake in the hotel to Citibank and other lenders, according to ABC News. In exchange, he received more favorable repayment terms on the debt. The celebrity developer also managed to hold onto his C.E.O. title, even though it meant giving up his salary and any role in the day-to-day operation of the hotel.

2004, Trump Hotels and Casinos Resorts
Just over a decade later, a Trump corporation was filing for Chapter 11 yet again. With the company nearly $1.8 billion dollars in debt, the businessman was back to making deals, this time agreeing to reduce his stake in the company to about 25 percent in exchange for lower interest rates and a new loan, the Associated Press reported at the time. The move meant that Trump surrendered much of his control in the company, but considering what had been going on under his watch, that was probably a good thing. (Time magazine claims Trump was also forced to pump $72 million of his own money into the company to keep it going.)

2009, Trump Entertainment Resorts
In his most recent dalliance with bankruptcy, Trump’s company declared Chapter 11 after missing a $53.1 million bond interest payment. Trump and the rest of the board of directors could not reach an agreement over whether or not to file for bankruptcy, resulting in his resignation as head of the board, Reuters reported at the time. The move also saw his stake in the company reduced even further on what Trump called a now “worthless” investment that he assured was less than a percent of his net worth.

So, it’s hard to deny that Trump’s personal finances are in great shape (although maybe not quite as good as he thinks), but his corporate track record is a little more . . . mixed. And that brand, which he’s assiduously attached to his projects, has occasionally come back to haunt him. Although he no longer has any involvement with the casino, Trump’s Taj Mahal filed for bankruptcy again in September of last year—leaving thousands of jobs to disappear into the coastal New Jersey air. The Donald’s reaction? He immediately reminded everyone, while self-congratulating his foresight, that he had pulled out of both the casino and Atlantic City years ago.

http://www.vanityfair.com/news/2015/06/...es-bankruptcy-atlantic-city
 

CFO Ken Cragun (only 10 weeks ago): "So we remain very optimistic about mobile - we remain confident that those implementations will happen over time, as projected


"We have had to go through a lengthier test process in each of the regions than I think we expected it to take. But we remain optimistic that they will achieve the volumes we had previously projected. It's just taking longer. At the same time, the new carriers we are signing provide a lot of positive outlook longer-term, but again some of the carriers, it can take six to nine months from when you sign an agreement until when you start seeing some real volume out of a carrier as they have to go through testing the implementation and then you tweak that and then they begin to run bigger and bigger volumes through the system.

So we remain very optimistic about mobile. We think it's a great platform. We certainly seem to have good success in finding carriers. If you look at our pipeline and the deals that we are winning there, it's just a question of the implementations taking longer than
 

"However, with market conditions having steadily improved over the past few years, an increasing number of companies are successfully navigating their way through the Chapter 11 maze to emerge as restructured entities. According to the most recent figures compiled by FTI Consulting, 550 companies have emerged as reorganised entities since 2010."  

A template for Local Corp

Enter Google with "cmaextras/Carl-Marks-Competition-American-Airlines"

"Despite all of the dramatic events in the courtroom, if an investor purchased debt or equity at the time of the filing, he would have grown his investment by a factor of 2.5x to 7x by the date of the merger, depending on the security and price paid. While some unsecured creditors were impaired, most were made whole by receiving equity in the new company. Interestingly, the original shareholders made money as well. Clearly a violation of absolute priority occurred and our analysis shows that labor bore most of the concessions." .

At the time of the filing AMR Corp had $29.5B liabilities compared to only $24.7B Assets, a shortfall of $4.8B. This situation is by Local Corp a lot better, because the assets was a lot higher than the debts of less than 20 million, when Local Corp filed Chapter 11.

 

Local Corp doesn't need after my estimates a bridge-financing, because the Cash Flow from Operations were positive in Q2/15 without the changes of liabilities. Local Corp reduced the liabilities 4.4 million in Q2.

And the Cash Flow form operations will increase in Q3 again, because the revenues from nQuery by Local will be more significant and the costs lower, because the number of employees were reduced from 60 to 48, an additional repay of 4.4 million will not exist and interest must not paid.

That is altogether after my estmates a positive swing of the cash flow from operatons of about 6 million in Q3/15 against Q2/15. And additional cash could come from the sale not needed assets - for example patents. If Local Corp had used the patent-action from Google in May 15, cash would flow at the end of August.  

Danke  

denn das Unternehmen hat Chapter 11 angemeldet, wozu ich weiter oben sehr viel geschrieben habe, was Du Dir genau durchlesen müsstest.

Geeignet ist ein Kauf meines Erachtens nur für jemand, der bereit ist, sehr hohe Risiken einzugehen und sich der hohen Möglichkeit eines Totalverlustes bewusst ist - was daher außerdem meines Erachtens nur auf einen sehr sehr kleinen Teil des Vermögenseinsatzes hinauslaufen sollte.

Ich habe vor dem Chapter 11-Filing gekauft und habe dadurch erhebliche Verluste, aber ich habe meine Bestände jetzt auch nicht verkauft, weil ich die Chance sehe, dass Chapter 11 erfolgreich ist und - was auch sehr wichtig ist - die alten Aktionäre nicht alles an die Gläubiger abgeben müssen. Welche Regelungen da kommen, weiß allerdings niemand, was sich ja auch im Kurs zeigt.

Wenn man in Deutschland kauft, was momentan nur in Stuttgart geht, muss man sehr sogfältig limitieren und auf den an manchen Tagen gigantischen Spread achten, der allerdings an manchen Tagen auch erträglicher sein kann.  

https://vimeo.com/111623700

auf dem einige Hoffnungen ruhen.  

Filing keine Qualitätseinbußen erkennen:

http://www.local.com/