Local Corporation Appoints New Board Member
IRVINE, Calif. -- January 21, 2013
Local Corporation (NASDAQ:LOCM), a leading online local media company, today
announced the appointment of Frederick G. Thiel to its board of directors.
Thiel brings over 25 years of senior level strategic management experience in
the software, media, internet and technology industries. Thiel was managing
partner of the software IT group at Triton Pacific Capital Partners, a private
equity firm, from 2007 until December 2012. During this time, Thiel served on
the board of directors for four of its portfolio companies: Custom Credit
Systems, LP, an enterprise software company; DB Technology, LLC, an enterprise
content management software company; Assetpoint, LLC, an enterprise software
company; and Vayan Marketing Group, LLC, an internet media marketing company
providing customer acquisition services to major consumer brands.
Thiel has served as an operating partner with Graham Partners, a mid-market
private equity firm, since 2008. Previously, Thiel was founder and managing
partner of TechStarter Ventures, a venture capital and technology incubator
focused on developing Web 2.0 technologies, social media, human resources and
project management-related web properties. Prior to TechStarter, Thiel served
as CEO of GameSpy Industries. He is currently serving as a director for three
privately-held companies. Thiel attended classes at the Stockholm School of
Economics in Europe.
Thiel will serve as a Class II Director on the company’s Audit Committee,
Nominating and Corporate Governance Committee and the Compensation Committee.
“Fred brings a wealth of strategic leadership experience with internet and
media companies and a proven ability to increase shareholder value, which we
believe will be a valuable addition to our board of directors,” said Heath
Clarke, Local Corporation, chairman and chief executive officer. “We’re
looking forward to his insights and contributions to our continued success.”
"I’m very pleased to be joining Local Corporation’s board and look forward to
working with the other board members and the leadership team in continuing to
grow and advance the company," said Thiel.
About Local Corporation
Local Corporation (NASDAQ:LOCM) is a leading online local media company that
connects brick-and-mortar businesses with over a million online and mobile
consumers each day using a variety of innovative digital marketing products.
To advertise, or for more information, visit: http://www.localcorporation.com.
This press release contains certain forward-looking statements that are based
upon current expectations and involve certain risks and uncertainties within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Words or expressions such as "anticipate," "plan," "will," "intend," "believe"
or "expect" or variations of such words and similar expressions are intended
to identify such forward-looking statements. These forward-looking statements
are not guarantees of future performance and are subject to risks,
uncertainties, and other factors, some of which are beyond our control and
difficult to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements. Key risks are
described in the filings we make with the U.S. Securities and Exchange
Commission. The forward-looking statements in this release speak only as of
the date they are made. We undertake no obligation to revise or update
publicly any forward-looking statement for any reason. Unless otherwise
stated, all site traffic and usage statistics are from third-party service
providers engaged by the company. Traffic and our monetization of that traffic
combine to determine our revenues for any given period. Our traffic volume
alone for a period should not be viewed as demonstrative of our financial
results for such period.
Investor Relations and Media Relations Contact:
Cameron Triebwasser, 949-789-5223
Press spacebar to pause and continue. Press esc to stop.