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Wednesday, Aug 17, 2022
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ReachLocal Buys DealOn.Com

Online marketer ReachLocal has acquired daily deals site DealOn.com in a transaction worth $10 million. The Woodland Hill-based firm’s announcement came with the release of its fourth quarter earnings showing a widening of its net loss when compared to a year ago. With the rapid growth of daily deal websites they will become an important way for publishers to monetize local users online, said ReachLocal co-founder and CEO Zorik Gordon. DealOn was founded in 2009 and operates in 18 markets across the U.S. The acquisition follows a pattern started last year by ReachLocal to diversify its offerings, which include digital presence product ReachCast, and Bizzy, a personalized local recommendation engine. ReachLocal ended its fiscal year with a net loss of $3.6 million, or $0.13 per diluted share, on revenues of $80.6 million.

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