On January 13, 2022, the Company completed an asset purchase agreement with 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 amortizes over the assets useful lives using a straight-line amortization method. The Company assigned useful lives to the acquired trade name and content of five years and four years, respectively.

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 six months ended June 30, 2022, and were included in general and administrative expenses in the consolidated statement of operations and comprehensive loss.

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 final as of June 30, 2022:


	Purchase Price
Assets acquired		Allocation
Fair value of tangible assets:
Other assets		$	328
Goodwill		5,176
Identifiable intangible assets		5,500
Total assets acquired		$	11,004
Liabilities assumed
Current and non-current liabilities		$	1,004
Total liabilities assumed		$	1,004
Net assets acquired		$	10,000

The Company allocated $5,500 of the purchase price to identifiable intangible assets consisting of developed technology, trade names, and customer relationships, which it amortizes over the assets useful lives using a straight-line amortization method. The Company assigned useful lives to the acquired developed technology, trade names, and customer relationships of six years, six years, and three years, respectively.

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 June 30, 2022
		Gross				Net
		Carrying		Accumulated		Carrying
		Amount		Amortization		Amount
Developed technology		4,294		(515)		3,779
Trade name		3,826		(308)		3,518
Content		1,958		(224)		1,734
Customer relationships		600		(59)		541
Capitalized internal-use software		3,257		(1,485)		1,772
Total as of June 30, 2022		$	13,935	$	(2,591)	$	11,344


	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 and six months ended June 30, 2022, the Company capitalized $165 and $782, respectively, of software development costs, which are classified as intangible assets on the accompanying consolidated balance sheets, and recorded amortization expense associated with its capitalized software development costs of $203 and $334, respectively. During the three and six months ended June 30, 2021, the Company capitalized $144 and $271, respectively, of software development costs, and recorded amortization expense associated with its capitalized software development costs of $130 and $259, respectively.

Amortization expense for acquired intangible assets was $528 and $811 for the three and six months ended June 30, 2022, respectively, and $55 and $116 for the three and six months ended June 30, 2021, respectively.


	Amount
Balance as of January 1, 2022	$	1,991
Kompyte acquisition	5,176
Foreign currency translation adjustment	(427)
Balance as of June 30, 2022	$	6,740