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Investment in Equity Securities
9 Months Ended
Sep. 30, 2017
Investments All Other Investments [Abstract]  
Investment in equity securities

Note 3 ̶ Investment in equity securities

On April 14, 2017, the Company entered into an agreement to make a minority equity investment in a social media analytics company (“Investee”). Pursuant to this agreement, the Company invested $2.9 million and received 4.7 million shares of preferred stock, or approximately 15.0% of the total outstanding voting securities of the Investee. The Company’s investment is carried at cost.

It is not practicable to estimate the fair value of the shares of preferred stock of Investee, which is not publicly traded. There have been no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment.