SEATTLE--(BUSINESS WIRE)--May. 3, 2012--
Marchex, Inc. (NASDAQ:MCHX) today announced Russell C. Horowitz, Chairman and CEO, Michael Arends, Chief Financial Officer, John Keister, Executive Vice Chairman and Ethan Caldwell, General Counsel and Chief Administrative Officer, intend to purchase shares of the Company’s Class B common stock in open market transactions over the balance of the year. Mr. Horowitz intends to purchase up to an aggregate total of $1 million worth of the Company’s Class B common stock and the other executive officers intend to purchase shares in varying amounts.
Marchex has a unique position and opportunity in the mobile performance and call advertising market,” said Mr. Horowitz. “While this market is early, we believe Marchex is well positioned by virtue of our technology platform, intellectual property, customers and people to become a leader in this large and growing market. When we look at these areas of strength, along with our strong asset base, we believe the current market price does not reflect the underlying value of Marchex’s assets and opportunity.”
Mr. Horowitz and certain of the other executive officers intend to establish Rule 10b5-1 share purchase plans. The share purchases will be executed in accordance with applicable securities laws, rules and regulations.
Marchex, Inc. is a leading mobile and online advertising company that drives millions of consumers to connect with businesses over the phone, delivers the most quality phone calls in the industry, and provides in-depth analysis of those phone calls.
Marchex supports its customers through a unique technology platform that has three primary components: (1) Call Analytics, which powers all of Marchex’s advertising solutions, and allows partners to leverage data and insights that accurately measure the performance of mobile, online and offline call advertising; (2) Digital Call Marketplace, which connects hundreds of millions of consumer calls to advertisers annually from a range of mobile and online sources on a Pay For Call basis; and (3) Local Leads, a white-labeled, full service digital advertising solution for small business resellers that drives quality phone calls and other leads to their small business advertisers.
Marchex is based in
Seattle. To learn more, please visit www.marchex.com/products.
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenues, acquisitions, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. There are a number of important factors that could cause
Marchex's actual results to differ materially from those indicated by such forward-looking statements which are described in the "Risk Factors" section of our most recent periodic report and registration statement filed with the SEC. All of the information provided in this release is as of May 3, 2012 and Marchex undertakes no duty to update the information provided herein.
Marchex Investor Relations
Trevor Caldwell, 206.331.3600
Katie Riese, 206-576-5507