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.
“We believe 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.