Local Andy

Thanks once again to Peter Krasilovsky for some excellent analysis on the local space:

ReachLocal Grossed $147 Million in 2008; Projects ‘09 Growth

One of the big q’s in local has been how well ReachLocal is doing. The SMB online advertising consultant was reportedly valued at $305 million after an October 2007 investment round. While ReachLocal says that number is “inaccurate,” the company’s ultimate success – still undetermined — would have important implications on the future of small business marketing.

At this point, the company has expanded rapidly to 38 offices in the U.S., Canada, Australia (in 2007) and the U.K. (in late 2008). It has 800 employees, including 500 sales people; and it has added display to its search offerings.

But we’ve also heard reports of scary levels of churn, both among customers and salespeople – something else that the company says is inaccurate. While additional information isn’t provided on churn, a spokesman says its numbers are well south of the 60 percent+ levels cited in a recent report.

Read the rest of the article and other great posts on the Local Onliner….