Past Investments

Reachlocal.com.au

In December 2006, netus formed a 50:50 joint venture with ReachLocal Inc to build ReachLocal Australia. Applying the technology and business IP of ReachLocal Inc, netus established the local team and guided the business through initial start-up and rapid growth to become the leading provider of online marketing solutions for small and medium businesses in Australia. By August 2009, ReachLocal Australia had the operational and organisational foundations for success: It was the largest Google and Yahoo reseller in Australia, growing at approximately 150% year on year, and profitable. At that time, ReachLocal Inc purchased netus' share of the business at an attractive multiple of netus' original investment and integrated the Australian business into their global operations.

Zorik Gordon, founder and CEO of ReachLocal Inc said 'ReachLocal Australia has been a very successful first international step for ReachLocal Inc. netus provided us with the experience in internationalisation, local knowledge, management bandwidth and funding to confidently manage this rollout without distracting resources from our US business. The Australian business is in great shape and we are delighted to be integrating it into our global business.'

Daniel Petre, Founder and Chairman of netus said, 'ReachLocal has a unique and strong business model, with extraordinary potential in one of the fastest growing markets in the world - Digital Advertising for small and medium businesses. The success of ReachLocal in Australia confirms the strength of the ReachLocal model and demonstrates it's applicability to many markets outside the US. We are very proud of what the team in Australia has achieved and believe that they are on track to build a very significant business here in Australia.