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Start Time: 17:00
End Time: 17:55
Trulia, Inc. (TRLA)
Q4 2013 Results Earnings Conference Call
February 13, 2014, 17:00 PM ET
Ian Lee - Head, IR
Pete Flint - CEO
Sean Aggarwal - CFO
Lloyd Walmsley - Deutsche Bank
Bo Nam - JPMorgan
Mark Mahaney - RBC Capital Markets
Ralph Schackart - William Blair
Kerry Rice - Needham & Company
James Cakmak - Telsey Advisory Group
Previous Statements by TRLA
» Trulia Discusses Q4 2013 Results (Webcast)
» Trulia's CEO Discusses Q3 2013 Results - Earnings Call Transcript
» Trulia Discusses Q3 2013 Results (Webcast)
» Trulia Inc at Deutsche Bank dbAccess Technology Conference (Webcast)
I would now like to hand the call over to Mr. Ian Lee, Trulia's Head of Investor Relations. Please proceed, sir.
Thank you, operator. Good afternoon and welcome to Trulia's fourth quarter and full year 2013 earnings call. Joining me today are Pete Flint, Trulia's Chief Executive Officer; and Sean Aggarwal, our Chief Financial Officer.
Before we start this call, I want to remind all of you that this presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or our future financial or operating performance.
Forward-looking statements in this presentation include, but are not limited to, statements related to our business and financial performance and expectations for future periods; our expectations regarding our integration of Market Leader and the growth of the combined business; our expectations regarding the continued use of our products by consumers and real estate professionals; our expectations regarding macro trends in the market; our expectations regarding our natural marketing campaign and our expectations for our products.
Our expectations and beliefs regarding these matters may not materialize and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include those set forth in the press release that we issued earlier today as well as those more fully described in our filings with the Securities and Exchange Commission. The forward-looking statements in this presentation are based on information available to us as of the date hereof and we disclaim any obligation to update any forward-looking statements except as required by law.
We also remind you that this call will include the discussion of GAAP and non-GAAP financial measures. The non-GAAP financial measures are not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. The discussion of why we present non-GAAP financial measures and a reconciliation of the non-GAAP financial measures discussed in this call to the most directly comparable GAAP financial measures are included in our earnings press release that is available on our website.
Please note that our discussion of financial and operating metrics during the call today will primarily focus on consolidated data for Trulia and Market Leader. For a more detailed breakout of this data, please refer to the cumulative slides in the earnings presentation accompanying this call and is available on the Investor Relations section of Trulia's website. This conference call is also being webcast and is available through the Investor Relations section of Trulia's website.
Now, I'll turn the call over to Pete.
Thanks, Ian. Welcome and thank you for joining our Q4 and full year 2013 earnings call. Today, I'll provide a brief review of 2013 and the fourth quarter and discuss a few of the major initiatives we're undertaking as we ended 2014. I'll then pass the call to Sean for a review of our financial results.
2013 was a tremendous year for Trulia. We continued to transform the real estate experience on both sides of our marketplace. We made it simpler for consumers to search for homes and we helped real estate professionals better connect with consumers and be more successful.
We are winning consumers by harnessing our product and engineering DNA to capture data and deliver rich meaningful insights. We are helping house hunters answer the questions at the core of their search experience, empowering them with recommendations and information to identify the neighborhoods, homes and agents that best suit them.
Consumers are increasingly searching for homes and real estate professionals on the go. Trulia has played its part in this mobile revolution by building an industry-leading mobile platform; our mobile app lead with a quality and easy to use. The results of this are clear in our metrics.
In the fourth quarter of 2013, about 40% of our unique business came from mobile devices. Mobile users are also highly engaged driving more than 50% of our total visits and most importantly, they are highly transaction-ready, representing approximately 60% of our for-sale lease.
As we have become more central to the home sales process for consumers, Trulia has also become a go-to marketing solution for more and more real estate professionals. We finished the year with nearly 60,000 subscribers, more than double the 24,000 we had at the end of 2012. Agents recognize that Trulia connects them with consumers who are in market and serious, delivering extremely attractive return on the dollars they spend on us.
With the addition of Market Leader to the Trulia family in 2013, we possess one of the industry's most comprehensive platforms for real estate professionals. We offer a one-two punch that only helps agents connect with serious consumers but also provides all the help we need to help convert the leads they receive into closed transactions.