This company's break-up value is so much higher than their stock price.. I think their names alone are worth "Hundreds of Millions of Dollars" MORE than they paid for them. They have "at least" 5,000 names that could be sold for $100,000 or more .. that's 500 Million. They absolutely have 25,000 names in the remainder that are worth at least $20,000 each. Thats another 500 million -- and they still have another 170,000 names after that, Tens of thousands of which are worth tens of thousands of dollars each.
Wall Street just doesn't understand the value proposition in this type of business. They are viewing vacant land on the Vegas strip and saying it is only worth what you can make from parking cars on it.
Marchex has a great deal of infrastructure (people, content, direct advertiser relationships). They also have the best name portfolio aside from mine (everyone thinks their babies are the prettiest ;) ). I would not be surprised if Marchex went private or got bought. Smart, smart, guys running the show there.
Note: I do not own Marchex because I already own shares in the best name compoany I know.