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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Financial Performance of Company's Reporting Segments

The following tables summarize the financial performance of the Company’s reporting segments:

		Three Months Ended June 30, 2013
		Brazil				Argentina				Mexico				Venezuela				Other Countries				Total
Net revenues		$	51,116,153			$	29,000,836			$	7,823,566			$	17,563,547			$	6,679,258			$	112,183,360
Direct costs			(27,849,992	)			(16,203,748	)			(5,122,425	)			(6,478,796	)			(3,215,003	)			(58,869,964	)
Direct contribution			23,266,161				12,797,088				2,701,141				11,084,751				3,464,255				53,313,396
Operating expenses and indirect costs of net revenues																							(17,864,101	)
Income from operations																							35,449,295
Other income (expenses):
Interest income and other financial gains																							2,202,314
Interest expense and other financial losses																							(531,668	)
Foreign currency gain																							3,600,866
Other gains, net																							1,393
Net income before income / asset tax expense																						$	40,722,200
		Three Months Ended June 30, 2012
		Brazil				Argentina				Mexico				Venezuela				Other Countries				Total
Net revenues		$	44,205,857			$	20,561,213			$	6,046,812			$	12,417,318			$	5,612,859			$	88,844,059
Direct costs			(25,066,435	)			(9,543,476	)			(3,269,574	)			(3,728,913	)			(2,896,426	)			(44,504,824	)
Direct contribution			19,139,422				11,017,737				2,777,238				8,688,405				2,716,433				44,339,235
Operating expenses and indirect costs of net revenues																							(12,454,315	)
Income from operations																							31,884,920
Other income (expenses):
Interest income and other financial gains																							2,982,303
Interest expense and other financial losses																							(474,300	)
Foreign currency gain																							749,008
Other losses, net																							(7,009	)
Net income before income / asset tax expense																						$	35,134,922

		Six Months Ended June 30, 2013
		Brazil				Argentina				Mexico				Venezuela				Other Countries				Total
Net revenues		$	98,881,836			$	54,621,583			$	15,613,867			$	32,694,097			$	13,097,724			$	214,909,107
Direct costs			(58,843,536	)			(29,679,458	)			(9,239,252	)			(12,486,903	)			(6,082,984	)			(116,332,133	)
Direct contribution			40,038,300				24,942,125				6,374,615				20,207,194				7,014,740				98,576,974
Operating expenses and indirect costs of net revenues																							(34,556,496	)
Income from operations																							64,020,478
Other income (expenses):
Interest income and other financial gains																							5,596,320
Interest expense and other financial losses																							(892,020	)
Foreign currency loss																							(2,648,848	)
Other losses, net																							(2,340	)
Net income before income / asset tax expense																						$	66,073,590
		Six Months Ended June 30, 2012
		Brazil				Argentina				Mexico				Venezuela				Other Countries				Total
Net revenues		$	86,370,511			$	38,677,682			$	12,630,678			$	23,658,890			$	11,242,304			$	172,580,065
Direct costs			(50,809,649	)			(17,666,411	)			(6,916,211	)			(8,576,248	)			(5,712,094	)			(89,680,613	)
Direct contribution			35,560,862				21,011,271				5,714,467				15,082,642				5,530,210				82,899,452
Operating expenses and indirect costs of net revenues																							(26,083,786	)
Income from operations																							56,815,666
Other income (expenses):
Interest income and other financial gains																							6,070,862
Interest expense and other financial losses																							(551,617	)
Foreign currency loss																							(283,969	)
Other losses, net																							(11,263	)
Net income before income / asset tax expense																							62,039,679

Allocation of Long-Lived Tangible Assets Based on Geography

The following table summarizes the allocation of the long-lived tangible assets based on geography, as of June 30, 2013 and December 31, 2012:

		June 30,				December 31,
		2013				2012
		(Unaudited)				(Audited)
US long-lived tangible assets		$	9,519,177			$	6,782,077
Other countries long-lived tangible assets
Argentina			33,568,284				16,955,438
Brazil			3,459,910				2,421,618
Mexico			572,537				378,653
Venezuela			29,755,221				8,455,816
Other countries			3,206,530				2,732,620
		$	70,562,482			$	30,944,145
Total long-lived tangible assets		$	80,081,659			$	37,726,222

Allocation of Goodwill and Intangible Assets Based on Geography

The following table summarizes the allocation of the goodwill and intangible assets based on geography, as of June 30, 2013 and December 31, 2012:

		June 30, 2013				December 31, 2012
		(Unaudited)				(Audited)
US intangible assets		$	15,754			$	21,005
Other countries goodwill and intangible assets
Argentina			19,067,487				20,328,154
Brazil			11,129,343				10,724,007
Mexico			14,667,740				14,644,795
Venezuela			6,980,576				6,595,117
Other countries			14,414,889				15,332,850
		$	66,260,035			$	67,624,923
Total goodwill and intangible assets		$	66,275,789			$	67,645,928

Consolidated Net Revenues by Similar Products and Services

The following table summarizes the allocation of the goodwill and intangible assets based on geography, as of June 30, 2013 and December 31, 2012:

		June 30, 2013				December 31, 2012
		(Unaudited)				(Audited)
US intangible assets		$	15,754			$	21,005
Other countries goodwill and intangible assets
Argentina			19,067,487				20,328,154
Brazil			11,129,343				10,724,007
Mexico			14,667,740				14,644,795
Venezuela			6,980,576				6,595,117
Other countries			14,414,889				15,332,850
		$	66,260,035			$	67,624,923
Total goodwill and intangible assets		$	66,275,789			$	67,645,928

Consolidated net revenues by similar products and services for the three and six-months ended June 30, 2013 and 2012 were as follows:

Consolidated Net		Three Months Ended June 30,
Revenues		2013				2012
Marketplace		$	77,915,508			$	61,936,103
Non-marketplace (*)		$	34,267,852			$	26,907,956
Total		$	112,183,360			$	88,844,059
Consolidated Net		Six Months Ended June 30,
Revenues		2013				2012
Marketplace		$	149,630,271			$	122,218,201
Non-marketplace (*)		$	65,278,836			$	50,361,864
Total		$	214,909,107			$	172,580,065

(*) Includes, among other things, Ad Sales, Real Estate, Motors, Financing Fees, Off-platform Payment Fees and other ancillary services.

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