On January 13, 2022, the Company completed an asset acquisition of Backlinko, LLC (“Backlinko”), acquiring certain of Backlinko’s assets for cash consideration of $4,000. The purpose of this asset acquisition was to acquire valuable content and to access an existing revenue stream in Backlinko’s SEO courses.

The Company accounted for this transaction as an asset acquisition and allocated the cost of the asset acquisition to the individual assets acquired. The Company allocated $3,915 to the acquired intangible assets and the remaining cost of the acquisition was allocated to the other assets acquired, which were not material. The identifiable intangible assets consisted of trade names and intellectual property, which the Company expects to amortize over the assets useful lives using a straight-line amortization method.

On March 14, 2022, the Company completed a purchase agreement with Intellikom, Inc., which does business under the name Kompyte (“Kompyte”) to acquire 100% of Kompyte’s assets for cash consideration of $10,000. The purpose of the acquisition of Kompyte was to acquire Kompyte’s assets, including its competitive intelligence automation platform. Aggregate acquisition-related costs associated with this business combination were not material for the three months ended March 31, 2022, and were

Upon the completion of the acquisition, Kompyte became a wholly owned subsidiary of the Company. The results of operations of Kompyte have been included in the Company’s consolidated financial statements from the date of acquisition.

The Company has accounted for this transaction as a business combination under the acquisition method. The total purchase price was allocated to the tangible and intangible assets acquired and the liabilities assumed based on their estimated fair values. The Company recorded the excess of the purchase price over those fair values as goodwill. The following table presents the purchase price allocation recorded in the Company’s consolidated balance sheet as of the acquisition date, which was preliminary as of March 31, 2022:


	Purchase Price
Assets acquired		Allocation
Fair value of tangible assets:
Other assets		$	333
Goodwill		6,111
Identifiable intangible assets		4,500
Total assets acquired		$	10,944
Liabilities assumed
Current and non-current liabilities		$	944
Total liabilities assumed		$	944
Net assets acquired		$	10,000

The Company allocated $4,500 of the purchase price to identifiable intangible assets consisting of developed technology, trade names, and customer relationships, which it expects to amortize over the assets useful lives using a straight-line amortization method.

These preliminary acquisition date values were generally determined through established and generally accepted valuation techniques and are subject to change during the measurement period as valuations are finalized. As a result, the acquisition accounting is not complete and additional information that existed at the acquisition date may become known to the Company during the remainder of the measurement period. As of the filing date of this Quarterly Report on Form 10-Q, the Company is still in the process of valuing Kompyte’s assets, including intangible assets and their related useful lives, and liabilities, including related income tax accounting.

This business combination did not have a material impact on the Company’s consolidated financial statements. Therefore, actual results of operations subsequent to the acquisition date and pro forma results of operations have not been presented.

Intangible assets consisted of intangible assets resulting from the Company’s acquisitions and its capitalized internal-use software development costs. Intangible assets consists of the following:


	As of March 31, 2022
		Gross				Net
		Carrying		Accumulated		Carrying
		Amount		Amortization		Amount
Developed technology		3,944		(315)		3,629
Trade name		2,276		(145)		2,131
Content		1,958		(89)		1,869
Customer relationships		1,500		—		1,500
Capitalized internal-use software		3,379		(1,129)		2,250
Total as of March 31, 2022		$	13,057	$	(1,678)	$	11,379


	As of December 31, 2021
		Gross				Net
		Carrying		Accumulated		Carrying
		Amount		Amortization		Amount
Developed technology		1,194		(266)		928
Trade name		68		(30)		38
Capitalized internal-use software		2,964		(1,005)		1,959
Total as of December 31, 2021		$	4,226	$	(1,301)	$	2,925

During the three months ended March 31, 2022 and 2021, the Company capitalized $415 and $123, respectively, of software development costs, which are classified as intangible assets on the accompanying consolidated balance sheets. The Company recorded amortization expense associated with its capitalized software development costs of $131 and $129 for the three months ended March 31, 2022 and 2021, respectively.

Amortization expense for acquired intangible assets was $273 and $55 for the three months ended March 31, 2022 and 2021, respectively.


	Amount
Balance as of January 1, 2022	$	1,991
Kompyte acquisition	6,111
Foreign currency translation adjustment	(23)
Balance as of March 31, 2022	$	8,079