{
  "docId": "019de06f-3e34-7498-b7ab-93d3124b7448",
  "docSlug": "86d8f17ffaaed8be61f8b36e2c739da4",
  "documentTitle": "Starboard Value | Activist Presentation Deck | 96 slides",
  "authorId": "starboard-value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-05-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 37,
  "pageCount": 96,
  "prevPage": 36,
  "nextPage": 38,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 2,
  "notes": "Uses a 100% stacked bar chart to show 0% positive response from a small sample size of 11 advertisers.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-3e34-7498-b7ab-93d3124b7448/37",
  "deckHref": "/decks/019de06f-3e34-7498-b7ab-93d3124b7448",
  "deckJsonHref": "/decks/019de06f-3e34-7498-b7ab-93d3124b7448.json",
  "deckAnchorHref": "/decks/019de06f-3e34-7498-b7ab-93d3124b7448#slide-37",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.3,
        "x": 0.64,
        "y": 0.265
      },
      "kind": "chart",
      "text": "National Advertiser Survey Results (1) Do national advertisers value a Display ad on Patch more than any other form of broad-based display advertising? Yes 0% No 100%",
      "attrs": null,
      "subkind": "bar-horizontal",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0efbd759-60f1-403f-b8cc-28c6e96616e1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.55,
        "x": 0.07,
        "y": 0.27
      },
      "kind": "list",
      "text": "As part of the assignment, L.E.K. Consulting contacted national advertisers to better understand why they value advertising on Patch.\nAfter contacting 11 randomly-selected national advertisers and receiving 11 consecutive responses that these advertisers did not value advertising on Patch more than any other form of broad-based display advertising, L.E.K. moved on to other parts of the assignment.\nWhile this was clearly a small sample size, we believed these results were highly indicative of the responses we would receive from a larger sample size for the following reasons:\n- National advertisers are more interested in broad reach than hyper-local advertising.\n- Patch’s monthly fixed rate card pricing implies substantially higher CPMs than national advertisers would otherwise pay on other local sites.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "04999b12-c769-46f3-b291-f9d473717f65",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.85,
        "x": 0.07,
        "y": 0.18
      },
      "kind": "paragraph",
      "text": "Given the substantial percentage of ad slots on Patch that we believe are sold at steep discounts to rate card pricing, we would also question whether national advertisers value Patch.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0e29d301-6f00-49bc-a288-549ecbed7b37",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.85,
        "x": 0.07,
        "y": 0.69
      },
      "kind": "quote",
      "text": "… Our clients have never asked us for hyper-local advertising, and we don’t see a need with a national product. Patch may be able to get some traction through AOL, but it’s really all about the reach and getting your brand out there. I don’t see this changing in the future….",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a9a4281c-f9c8-481e-ab18-370c36d22733",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.07,
        "y": 0.93
      },
      "kind": "source-note",
      "text": "(1) Survey from L.E.K. Consulting. Sample size of 11 randomly-selected national advertisers. (2) Based on interviews conducted by L.E.K. Consulting.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "258c2fc9-562a-4277-88e2-02dcffa435b1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.7,
        "x": 0.07,
        "y": 0.11
      },
      "kind": "title",
      "text": "It appears national advertisers do not value Patch",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "20993fbc-bc15-4822-9084-496e988db180",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "evidence-matrix",
      "slug": null,
      "matchId": "b8c09954-d5d0-4b4e-8618-e96da05113d8",
      "evidence": "Uses survey data and qualitative quotes to support the thesis that national advertisers do not value the product.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}