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Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2014
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, 2014 |
|  | Brazil |  |  | Argentina |  |  | Mexico |  |  | Venezuela |  |  | Other Countries |  |  | Total |
Net revenues |  | $ | 63,400,348 |  |  | $ | 33,267,193 |  |  | $ | 9,369,842 |  |  | $ | 16,551,431 |  |  | $ | 9,260,325 |  |  | $ | 131,849,139 |
Direct costs |  |  | (37,793,126 | ) |  |  | (17,609,259 | ) |  |  | (5,546,333 | ) |  |  | (4,856,907 | ) |  |  | (4,972,194 | ) |  |  | (70,777,819 | )
Impairment of Long-lived Assets |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (49,495,686 | ) |  |  | — |  |  |  | (49,495,686 | )
Direct contribution |  |  | 25,607,222 |  |  |  | 15,657,934 |  |  |  | 3,823,509 |  |  |  | (37,801,162 | ) |  |  | 4,288,131 |  |  |  | 11,575,634 |
Operating expenses and indirect costs of net revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (17,488,423 | )
Income from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,912,789 | )
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income and other financial gains |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,572,917 |
Interest expense and other financial losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (778,155 | )
Foreign currency losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (15,964,572 | )
Other gains, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Net income before income / asset tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (19,082,599 | )
|  | 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 gains |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,600,866 |
Other gains, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,393 |
Net income before income / asset tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 40,722,200 |
|  | Six Months Ended June 30, 2014 |
|  | Brazil |  |  | Argentina |  |  | Mexico |  |  | Venezuela |  |  | Other Countries |  |  | Total |
Net revenues |  | $ | 115,834,447 |  |  | $ | 61,228,937 |  |  | $ | 17,453,027 |  |  | $ | 35,908,018 |  |  | $ | 16,807,031 |  |  | $ | 247,231,460 |
Direct costs |  |  | (68,310,020 | ) |  |  | (34,523,451 | ) |  |  | (10,293,505 | ) |  |  | (10,491,888 | ) |  |  | (8,886,725 | ) |  |  | (132,505,589 | )
Impairment of Long-lived Assets |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (49,495,686 | ) |  |  | — |  |  |  | (49,495,686 | )
Direct contribution |  |  | 47,524,427 |  |  |  | 26,705,486 |  |  |  | 7,159,522 |  |  |  | (24,079,556 | ) |  |  | 7,920,306 |  |  |  | 65,230,185 |
Operating expenses and indirect costs of net revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (37,141,885 | )
Income from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 28,088,300 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income and other financial gains |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,608,546 |
Interest expense and other financial losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,805,335 | )
Foreign currency loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (12,871,102 | )
Other losses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Net income before income / asset tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 20,020,409 |
|  | 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 |
Allocation of Long-Lived Tangible Assets Based on Geography | The following table summarizes the allocation of the long-lived tangible assets based on geography:
|  | June 30, |  |  | December 31, |
|  | 2014 |  |  | 2013 |
US long-lived tangible assets |  | $ | 11,979,734 |  |  | $ | 9,131,777 |
Other countries long-lived tangible assets |  |  |  |  |  |  |  |
Argentina |  |  | 26,563,597 |  |  |  | 29,119,057 |
Brazil |  |  | 7,742,432 |  |  |  | 5,559,702 |
Mexico |  |  | 1,144,967 |  |  |  | 711,200 |
Venezuela (*) |  |  | 33,429,396 |  |  |  | 83,655,816 |
Other countries |  |  | 2,920,717 |  |  |  | 3,194,357 |
|  | $ | 71,801,109 |  |  | $ | 122,240,132 |
Total long-lived tangible assets |  | $ | 83,780,843 |  |  | $ | 131,371,909 |
(*) | After the impairment of Venezuelan long-lived assets. See Note 2 Venezuelan currency status.
Allocation of Goodwill and Intangible Assets Based on Geography | The following table summarizes the allocation of the goodwill and intangible assets based on geography:
|  | June 30, |  |  | December 31, |
|  | 2014 |  |  | 2013 |
US intangible assets |  | $ | 213,456 |  |  | $ | 10,503 |
Other countries goodwill and intangible assets |  |  |  |  |  |  |  |
Argentina |  |  | 12,369,255 |  |  |  | 15,575,776 |
Brazil |  |  | 10,899,364 |  |  |  | 10,380,974 |
Mexico |  |  | 21,670,820 |  |  |  | 14,512,949 |
Venezuela |  |  | 6,900,347 |  |  |  | 6,913,604 |
Other countries (*) |  |  | 43,897,705 |  |  |  | 14,298,997 |
|  | $ | 95,737,491 |  |  | $ | 61,682,300 |
Total goodwill and intangible assets |  | $ | 95,950,947 |  |  | $ | 61,692,803 |
(*) | Includes the acquisition of online classified advertisement company in Chile. See Note 4.
Consolidated Net Revenues by Similar Products and Services | Consolidated net revenues by similar products and services for the three and six-month periods ended June 30, 2014 and 2013 were as follows:
Consolidated Net Revenues |  | Six-months Ended June 30, |  |  | Three-months Ended June 30, |
| 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Marketplace |  | $ | 174,959,772 |  |  | $ | 149,630,271 |  |  | $ | 91,517,242 |  |  | $ | 77,915,508 |
Non-marketplace (*) |  | $ | 72,271,688 |  |  | $ | 65,278,836 |  |  | $ | 40,331,897 |  |  | $ | 34,267,852 |
Total |  | $ | 247,231,460 |  |  | $ | 214,909,107 |  |  | $ | 131,849,139 |  |  | $ | 112,183,360 |
(*) | Includes, among other things, Ad Sales, Real Estate, Motors, Financing Fees, Off-platform Payment Fees and other ancillary services.

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