Enom 2013 Annual Report Download - page 46

Business Separation or to change any of the terms related to the Proposed Business Separation or the Distribution. Consummation of the
Proposed Business Separation is also subject to the satisfaction of several conditions, including receipt of a private letter ruling from the IRS ,
together with an opinion of our tax counsel, substantially to the effect that, among other things, the Proposed Business Separation will qualify as
a transaction that is tax-free for U.S. federal income tax purposes under Sections 355 and 368(a)(1)(D) of the Code , having the Registration
Statement on Form 10 declared effective by the SEC and receipt of listing approval. We received the private letter ruling from the IRS on
January 31, 2014. We have not yet finalized all of the details of the Proposed Business Separation.
In January 2011, we completed our initial public offering and received proceeds, net of underwriters discounts but before deducting
offering expenses, of $81.8 million from the issuance of 5.2 million shares of common stock. As a result of the initial public offering, all shares
of our convertible preferred stock converted into 61.7 million shares of common stock and warrants to purchase common stock or convertible
preferred stock net exercised into 0.5 million shares of common stock.
For the years ended December 31, 2013, 2012 and 2011, we reported revenue of $394.6 million, $380.6 million and $324.9 million,
respectively. For the years ended December 31, 2013, 2012 and 2011, our Content & Media offering accounted for 62%, 65% and 63% of our
total revenue, respectively, and our Registrar service accounted for 38%, 35% and 37% of our total revenue, respectively.
Key Business Metrics
We regularly review a number of business metrics, including the following key metrics, to evaluate our business, measure the
performance of our business model, identify trends impacting our business, determine resource allocations, formulate financial projections and
make strategic business decisi ons. Measures which we believe are the primary indicators of our performance are as follows:
Content & Media Metrics
Registrar Metrics
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1
page views: We define page views as the total number of web pages viewed across (1) our owned and operated websites and/or
(2) our network of customer websites, to the extent that the viewed customer web pages host our monetization, social media and/or
content services. Page views are primarily tracked through internal systems, such as our Omniture web analytics tool, contain
estimates for our customer websites using our social media tools and may use data compiled from certain customer websites. We
periodically review and refine our methodology for monitoring, gathering, and counting page views in an effort to improve the
accuracy of our measure.
1
RPM: We define RPM as Content & Media revenue per one thousand page views.
1
domain: We define a domain as an individual domain name paid for by a third-party customer where the domain name is managed
through our Registrar service offering. Beginning July 1, 2011, the number of net new domains has been adjusted to include only new
registered domains added to our platform for which we have recognized revenue. This metric does not include any of our owned and
operated websites.
1
average revenue per domain: We calculate average revenue per domain by dividing Registrar revenue for a period by the average
number of domains registered in that period. The average number of domains is the simple average of the number of domains at the
beginning and end of the period.