Local Corporation Appoints Two New Board Members
Strengthens Board with Experts in Digital Marketing and IP Licensing
IRVINE, Calif. -- June 10, 2014
Local Corporation (NASDAQ:LOCM), a leading local advertising technology
company, today announced the appointment of David M. Hughes, 45, and John M.
Payne, 58, to its board of directors.
“David and John’s proven track records of strong leadership and past success
in building and leading digital technology companies are a perfect complement
to Local Corporation’s overall strategic vision,” said Fred Thiel, Local
Corporation chairman and chief executive officer. “We welcome them to our
board and look forward to their valuable contributions to our continued growth
David M. Hughes
Hughes brings 15 years of strategic executive leadership experience with
public and private companies. He is currently the CEO of The Search Agency, a
global digital marketing company that provides integrated multi-channel online
marketing strategies, implementation and ongoing optimization to help partners
grow their businesses. In this role, Hughes is responsible for hands on
management of the company’s managed services and software-as-a-service
Prior to joining The Search Agency in 2004, Hughes served as senior vice
president of corporate development for United Online, Inc. He led all user
acquisition programs, new products and services for NetZero/Juno customers,
broadband services, development and implementation of search services and
large strategic relationships. Hughes also served as a management consultant
for the Boston Consulting Group and was an associate with Mercer Management
Consulting. Hughes is a graduate of Harvard University’s Graduate School of
Business Administration, where he received a master’s of business
administration and the Dean’s Award for leadership. He also holds a bachelor
of arts degree with honors from the University of Western Ontario. He was
previously president and a board member of the 2,200-member Harvard Business
School Association Club of Southern California and currently serves as a board
member for Spark Networks (Lov), YPOLA, and The Huron University College
John M. Payne
Payne has 30 years of experience leading public and private companies with a
history of success in building or turning around early stage software and
technology companies. Payne is currently the CEO of SimpleAir, Inc., an
inventor-owned technology licensing company with interests and intellectual
property assets focused on smartphones, wireless content delivery, mobile
applications, messaging and push notifications. He also serves as lead
inventor for all of the patents in the SimpleAir portfolio, covering more than
12 patents in two product families. The SimpleAir patent portfolio is widely
licensed in the mobile industry by companies that include Apple® for its Apple
Payne has served as CEO of more than 10 digital technology, enterprise
security and compliance companies, including Zumbox, the leading provider of
digital postal mail services; Breach Security, Inc., an enterprise application
security company; CircleUp, Inc., the leading group messaging platform for
payments, wireless and VOIP services; Preventsys, an enterprise regulatory
compliance and security risk management company, which was acquired by McAfee
in 2010; and Airmedia, a wireless push technology company. Prior to this,
Payne was the CEO and founder of handheld start-up, Fingertip Technologies,
Inc., and Financial MicroSystems, Inc., a provider of banking industry
platform automation solutions. He also served as the CEO of two public
Internet companies, Stamps.com (NASDAQ: STMP) and Day Software (SWX: DAYN). As
CEO, Payne was responsible for leading the successful IPO of Stamps.com and
led the turnaround of enterprise software company, Day Software, which was
recently acquired by Adobe. Payne is an experienced fundraiser who has raised
more than $550 million in public and private equity, including more than $150
million in early stage venture capital from well-known venture firms and
strategic investors. He currently serves as managing director for Outset
Ventures, a start-up studio that fosters the successful development of
multiple companies by providing guidance, resources and capital, and focuses
on turning valuable ideas into successful operating companies. Payne also
serves as an advisory board member for Digital Offering LLC and has served on
the boards of several private and public companies.
In conjunction with the appointment of Hughes and Payne, Heath Clarke has
resigned from the board effective immediately, but will continue to provide
consulting services to the company as previously agreed.
Both Hughes and Payne will serve as Class III Directors. Hughes will also
serve on the company’s Audit Committee.
About Local Corporation
Local Corporation (NASDAQ:LOCM) is a leading local advertising technology
company that connects millions of online and mobile consumers with businesses
and products through a variety of innovative digital advertising solutions.
The company’s patented Krillion® local shopping platform aggregates, localizes
and distributes dynamic, national and regional retail shopping content, from
approximately 120,000 store locations, representing nearly 3 million localized
products. For more information, visit: http://www.localcorporation.com or
http://www.krillion.com. To download the company’s iOS® 7-compatible Havvit™
shopping app, go to: iTunes® (http://bit.ly/1d8Y111).
Forward Looking Statements
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upon current expectations and involve certain risks and uncertainties within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
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Investor Relations Contact:
Kirsten Chapman, 415-433-3777
Media Relations Contact:
Cameron Triebwasser, 949-789-5223
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