Incredimail 2015 Annual Report Download - page 9

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B. CAPITALIZATION AND INDEBTEDNESS
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
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C. REASONS FOR OFFER AND USE OF PROCEEDS
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
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D. RISK FACTORS
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We are subject to various risks and uncertainties relating to or arising out of the nature of our business and general business, economic, financial, legal and other factors
or conditions that may affect us. We believe that the occurrence of any one or some combination of the following factors could have a material adverse effect on our
business, financial condition, cash flows and results of operations.
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Risks Related to our Industry
As a considerable portion of our revenues are derived from online advertising, any reduction in spending for online advertising by advertisers could adversely
impact our business and results of operations.
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


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


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 



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The online advertising market is very concentrated, with Google and Facebook in particular playing a substantial role in that market, limiting our flexibility to
operate in this market.
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




                        

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