Thursday, August 13, 2009
ReachLocal Hits $147M In Revenues
One of the revelations in yesterday's Inc. 500 listing was that Woodland Hills-based ReachLocal, a venture backed provider of local online marketing services, hit $147M in revenues in 2008, up significantly from $4.4M in revenues of 2005. The revelation is the first public disclosure how much the firm's business has grown recently. The listing also revealed that the firm was up to 707 employees as of 2008; a spokesperson for the firm says that the company now actually is well over 800 employees today. Inc. magazine ranked the firm as the 39th fastest-growing private company in America. ReachLocal has raised funding from VantagePoint Venture Partners, Rho Ventures, and Galleon Special Opportunities Fund.