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F-33
Supplemental Pro forma Information (unaudited)
Supplemental information on an unaudited pro forma basis, as if the 2014 and 2013 acquisitions had been
consummated as of January 1, 2013, is as follows (in thousands):
Year ended December 31,
2014
2013
Revenue ............................................................
$
174,691
$
222,790
Net loss .............................................................
$
(272,988)
$
(24,484)
The unaudited pro forma supplemental information is based on estimates and assumptions which we believe are
reasonable and reflect amortization of intangible assets as a result of the acquisitions. The pro forma results are not
necessarily indicative of the results that have been realized had the acquisitions been consolidated in the tables above as
of January 1, 2013.
Dispositions
We sold our Creativebug business in July 2014 and received $10.0 million in cash, inclusive of $1.0 million held
in escrow for one year from the closing date as a holdback amount to cover indemnity claims, resulting in a gain on sale
of $0.2 million, recorded in other income, net. The holdback amount was received in 2015. We also sold our CoveritLive
business in July 2014 and received $4.5 million of cash and promissory note with a principal amount of $5.6 million,
resulting in a gain on sale of $0.6 million, recorded in other income, net. During the year ended December 31, 2015, we
agreed to an early repayment of the promissory note and received $5.1 million in cash, plus accrued and unpaid interest,
which satisfied all amounts owed to us under the promissory note.
In February 2015, we sold our Pluck social media business for $3.8 million in cash after working capital
adjustments, resulting in a gain of $2.1 million. During the year ended December 31, 2015, we also sold certain non-core
online properties for a total consideration of $1.2 million, resulting in a gain of $1.0 million, recorded in other income,
net.
16. Business Segments
We operate in one operating segment. Our chief operating decision maker (“CODM”) manages our operations on a
consolidated basis for purposes of evaluating financial performance and allocating resources. The CODM reviews
separate revenue information for its Content & Media and Marketplace offerings. All other financial information is
reviewed by the CODM on a consolidated basis. All of the Company’s principal operations and assets are located in the
United States.
Revenue derived from the Company’s Content & Media and Marketplaces is as follows (in thousands):
Year ended December 31,
2015
2014
2013
Content & Media ..............................................
$
73,814
$
137,038
$
195,080
Marketplaces .................................................
52,155
35,391
14,331
Total revenue .................................................
$
125,969
$
172,429
$
209,411