25 Feb '15, 11pm

Marchex CEO steps down

A new boss at Marchex and Q4 earnings released. Marchex reported earnings today, and also announced that long time CEO Russell Horowitz has stepped down. Company co-founder Pete Christothoulou has taken over the top post. The company, which derives the bulk of its revenue from performance advertising in which customers pay for phone calls, had a rocky 2014 after losing the bulk of its business from its biggest client. The stock trades for about $4.00 now, well below its 52-week high of $12.84. Marchex also owns a large portfolio of domain names that it monetizes and sells through the Archeo Domains brand. The Archeo business reported revenue of $3.0 million for Q4 2014, and $14.5 million for the year. Both of these numbers are down from their prior respective periods. Email Learn more... Marchex and Web.com release earnings Marchex domain sales drop in Q4, $6.3 million for...

Full article: http://domainnamewire.com/2015/02/25/marchex-ceo-steps-down/

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