28 acquisitions on june 10 , 2014 , we acquired 100 % of the outstanding equity of auctane llc , which operates shipstation , in a cash and contingent stock transaction . shipstation , based in austin , texas , offers monthly subscription based e-commerce shipping software primarily under the brands shipstation and auctane . shipstation is a leading web-based shipping software solution that allows online retailers and e-commerce merchants to organize , process , fulfill and ship their orders quickly and easily . shipstation supports automatic order importing from over 50 shopping carts and marketplaces , including ebay , amazon , shopify , bigcommerce , volusion , squarespace and others . shipstation offers multi-carrier shipping options , and automation features like custom hierarchical rules and product profiles that allow customers to easily and automatically optimize their shipping . using shipstation , an online retailer or e-commerce merchant can ship their orders from wherever they sell and however they ship . on august 29 , 2014 , we acquired 100 % of the outstanding equity of interapptive inc , which operates shipworks , in a cash transaction . shipworks based in st. louis , missouri , offers monthly subscription based e-commerce shipping software that provides simple , powerful and easy to use solutions for online sellers . shipworks solutions integrate with over 50 popular online sales and marketplaces systems including ebay , paypal , amazon , yahoo ! and others . shipworks offers multi-carrier shipping options and features including sending email notifications to buyers , updating online order status , generating reports and many more . the acquisitions of shipstation and shipworks represent a significant strategic investment in our high volume and e-commerce shipping business . please see note 3 – “ acquisitions ” in our notes to consolidated financial statements for further description . results of operations the results of our operations during the year ended december 31 , 2014 includes operations of shipstation from the period june 10 , 2014 through december 31 , 2014 and shipworks from the period august 29 , 2014 through december 31 , 2014. please see note 3 – “ acquisitions ” in our notes to consolidated financial statements for further description . years ended december 31 , 2014 and 2013 total revenue increased 15 % to $ 147.3 million in 2014 from $ 127.8 million in 2013. mailing and shipping revenue , which includes service revenue , product revenue and insurance revenue , was $ 141.8 million in 2014 , an increase of 15 % from $ 123.1 million in 2013. photostamps revenue increased 16 % to $ 5.4 million in 2014 from $ 4.7 million in 2013. the following table sets forth the breakdown of revenue for 2014 and 2013 and the resulting percent change ( revenue in thousands ) : replace_table_token_6_th core mailing and shipping revenue in 2014 was $ 139.7 million , an increase of 16 % from $ 120.2 million in 2013. non-core mailing and shipping revenue in 2014 was $ 2.1 million , a decrease of 26 % from $ 2.9 million in 2013 . 29 the following table sets forth the breakdown of mailing and shipping revenue , which includes core mailing and shipping revenue and non-core mailing and shipping revenue for 2014 and 2013 and the resulting percent change ( revenue in thousands ) : replace_table_token_7_th the increase in core mailing and shipping revenue was driven by both an increase in annual average paid customers and an increase in annual average revenue per paid customer . annual average paid customers increased 7 % to 500,000 in 2014 from 466,000 in 2013. annual average revenue per paid customer increased 8 % to $ 280 in 2014 from $ 258 in 2013. the decrease in non-core mailing and shipping revenue was primarily attributable to lower marketing spend in the online enhanced promotion channel . we expect non-core mailing and shipping revenue will continue to be down in 2015 compared to 2014 as we expect to continue to minimize investments in these areas of our business . we define paid customers for the quarter as ones from whom we successfully collected service fees at least once during that quarter , and we define average paid customers for the year as the average of the paid customers for each of the four quarters during the year . the following table sets forth the number of paid customers in the period for our core mailing and shipping business ( in thousands ) : replace_table_token_8_th the following table sets forth the growth in paid customers and average annual revenue per paid customer for our core mailing and shipping business ( in thousands except average annual revenue per paid customer ) : replace_table_token_9_th the increase in paid customers is primarily driven by ( 1 ) a higher number of stamps.com new paid customers compared to the prior year as a result of our increased spending in core mailing and shipping marketing channels , ( 2 ) the addition of new paid customers from shipstation and shipworks as a result of our acquisitions in 2014 , and ( 3 ) our customer churn rates remained at levels that were consistent with the prior year . for our core mailing and shipping business , our average annual and monthly core mailing and shipping revenue per paid customer in 2014 was $ 280 and $ 23.27 , respectively , which increased by 8 % compared to $ 258 and $ 21.51 , respectively , in 2013. the increase in average revenue per paid customer ( “ arpu ” ) was primarily the result of the addition of new paid customers from our acquisitions of shipstation and shipworks where the arpu for those newly acquired paid customers is higher as compared to the arpu from the existing stamps.com small business customers as well as growth in stamps.com 's high volume shipping business . story_separator_special_tag 35 the following table sets forth the number of paid customers in the period for our core mailing and shipping business ( in thousands ) : replace_table_token_15_th the following table sets forth the growth in paid customers and average annual revenue per paid customer for our core mailing and shipping business ( in thousands except average annual revenue per paid customer ) : replace_table_token_16_th the increase in paid customers is primarily driven by an increased number of new customers acquired , which was driven by our increased spend in core mailing and shipping marketing channels , while our lost customer churn rates remained at levels that were consistent with the prior year . for our core mailing and shipping business , our average annual and monthly core mailing and shipping revenue per paid customer in 2013 was $ 258 and $ 21.51 respectively , which increased by 2 % compared to $ 254 and $ 21.18 , respectively in 2012. the increase in average revenue per paid customer was primarily attributable to higher service revenue per paid customer from our high volume shipping and enterprise customers and higher store revenue per paid customer from increased sales of netstamps labels ; partially offset by a reduction in revenue per paid customer from our amazon partnership . revenue by product the following table shows our components of revenue and their respective percentages of total revenue for the periods indicated ( in thousands except percentage ) : replace_table_token_17_th our revenue is derived primarily from five sources : ( 1 ) service revenue from subscription , transaction and other fees related to our mailing and shipping services and integrations ; ( 2 ) product revenue from the direct sale of consumables and supplies through our supplies store ; ( 3 ) insurance revenue from the sale of package insurance to our customers ; ( 4 ) photostamps revenue from selling sheets of photostamps postage ; and ( 5 ) other revenue , consisting primarily of advertising revenue derived from advertising programs with our existing customers . service revenue increased 12 % to $ 99.0 million in 2013 from $ 88.2 million in 2012. the 12 % increase in service revenue in 2013 consisted of a 12 % increase in service revenue from our core mailing and shipping business while the service revenue from our non-core mailing and shipping business decreased 5 % . the 12 % increase in our core mailing and shipping service revenue consisted of an 11 % increase in our annual average paid customers and a 2 % increase in our annual average revenue per paid customer . 36 product revenue increased 13 % to $ 16.6 million in 2013 from $ 14.7 million in 2012. the increase was primarily attributable to the following : ( 1 ) increase in netstamps label sales ; ( 2 ) growth in our paid customer base ; ( 3 ) the postal rate increase in january 2013 , which generated incremental label sales for the period of time around the rate increase ; ( 4 ) marketing our supplies store to our existing customer base ; and ( 5 ) growth in postage printed , which helps drive sales of consumable supplies such as labels . total postage printed by customers using our service in 2013 was $ 1.6 billion , a 36 % increase from the $ 1.1 billion printed in 2012. insurance revenue increased 6 % to $ 7.5 million in 2013 from $ 7.1 million in 2012. this increase was primarily attributable to increased insurance purchases by our high volume shippers , partially offset by a reduction in insurance revenue through our amazon partnership . we continued to reduce our photostamps sales and marketing spending in 2013 compared with 2012 , and plan to continue to reduce our sales and marketing spending on photostamps in future periods to maintain or improve profitability in that business , although we believe that there may be potential opportunities to grow the business in a better economic environment . as a result of this decision photostamps revenue decreased 17 % to $ 4.7 million in 2013 from $ 5.7 million in 2012. total photostamps sheets shipped in 2013 decreased 20 % to 255 thousand compared to 2012 and average revenue per photostamps sheet shipped increased 4 % to $ 18.50 in 2013 compared to 2012. the decrease in sheets shipped was primarily attributable to our lower marketing spend and the increase in average revenue per sheet shipped was primarily attributable to less discounting on custom negotiated pricing . cost of revenue the following table shows cost of revenues and cost of revenues as a percentage of its associated revenue for the periods indicated ( in thousands except percentage ) : replace_table_token_18_th cost of service revenue principally consists of the cost of customer service , certain promotional expenses , system operating costs , credit card processing fees and customer misprints that do not qualify for reimbursement from the usps . cost of product revenue principally consists of the cost of products sold through our mailing & shipping supplies store and the related costs of shipping and handling . the cost of insurance revenue principally consists of parcel insurance offering costs . cost of photostamps revenue principally consists of the face value of postage , customer service , image review costs , and printing and fulfillment costs . cost of service revenue decreased 2 % to $ 15.4 million in 2013 from $ 15.7 million in 2012. the decrease in cost of service revenue is primarily attributable to lower promotional expense as a result of a decrease in our coupon redemption rate , partially offset by higher system operating costs , credit card processing fees and customer service costs reflecting the growth in our business and our associated investments to support that growth . promotional expense , which represents a material portion of total cost of service revenue , is expensed in the period in which a

liquidity and capital resources as of december 31 , 2014 and 2013 , we had $ 58 million and $ 87 million , respectively , in cash , cash equivalents and short-term and long-term investments . we invest available funds in short-term and long-term securities , including money market funds , corporate bonds , asset backed securities , and us government and agency bonds , and do not engage in hedging or speculative activities . net cash provided by operating activities was approximately $ 52 million and $ 36 million in 2014 and 2013 , respectively . the increase in net cash provided by operating activities was primarily attributable to the growth in our revenue and changes in our operating assets and liabilities . net cash used in investing activities was approximately $ 69 million and $ 9 million in 2014 and 2013 , respectively . the increase in net cash used in investing activities was primarily due to the acquisition of shipstation and shipworks ( see note 3 – “ acquisitions ” in our notes to consolidated financial statements ) . net cash used in financing activities was approximately $ 8 million in 2014. net cash provided by financing activities was approximately $ 10 million in 2013. the increase in net cash used in financing activities is primarily due to the increase of stock purchased through our stock repurchase program , partially offset by the decrease in proceeds from employee stock options exercises . the following table is a schedule of our significant contractual obligations and commercial commitments , which consist only of future minimum lease payment under operating leases as of december 31 , 2014 ( in thousands ) : replace_table_token_20_th we believe our available cash and marketable securities , together with the cash flow from operations , will be sufficient to fund our business for at least the next twelve months .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources as of december 31 , 2014 and 2013 , we had $ 58 million and $ 87 million , respectively , in cash , cash equivalents and short-term and long-term investments . we invest available funds in short-term and long-term securities , including money market funds , corporate bonds , asset backed securities , and us government and agency bonds , and do not engage in hedging or speculative activities . net cash provided by operating activities was approximately $ 52 million and $ 36 million in 2014 and 2013 , respectively . the increase in net cash provided by operating activities was primarily attributable to the growth in our revenue and changes in our operating assets and liabilities . net cash used in investing activities was approximately $ 69 million and $ 9 million in 2014 and 2013 , respectively . the increase in net cash used in investing activities was primarily due to the acquisition of shipstation and shipworks ( see note 3 – “ acquisitions ” in our notes to consolidated financial statements ) . net cash used in financing activities was approximately $ 8 million in 2014. net cash provided by financing activities was approximately $ 10 million in 2013. the increase in net cash used in financing activities is primarily due to the increase of stock purchased through our stock repurchase program , partially offset by the decrease in proceeds from employee stock options exercises . the following table is a schedule of our significant contractual obligations and commercial commitments , which consist only of future minimum lease payment under operating leases as of december 31 , 2014 ( in thousands ) : replace_table_token_20_th we believe our available cash and marketable securities , together with the cash flow from operations , will be sufficient to fund our business for at least the next twelve months .
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 Suspicious Activity Report : 28 acquisitions on june 10 , 2014 , we acquired 100 % of the outstanding equity of auctane llc , which operates shipstation , in a cash and contingent stock transaction . shipstation , based in austin , texas , offers monthly subscription based e-commerce shipping software primarily under the brands shipstation and auctane . shipstation is a leading web-based shipping software solution that allows online retailers and e-commerce merchants to organize , process , fulfill and ship their orders quickly and easily . shipstation supports automatic order importing from over 50 shopping carts and marketplaces , including ebay , amazon , shopify , bigcommerce , volusion , squarespace and others . shipstation offers multi-carrier shipping options , and automation features like custom hierarchical rules and product profiles that allow customers to easily and automatically optimize their shipping . using shipstation , an online retailer or e-commerce merchant can ship their orders from wherever they sell and however they ship . on august 29 , 2014 , we acquired 100 % of the outstanding equity of interapptive inc , which operates shipworks , in a cash transaction . shipworks based in st. louis , missouri , offers monthly subscription based e-commerce shipping software that provides simple , powerful and easy to use solutions for online sellers . shipworks solutions integrate with over 50 popular online sales and marketplaces systems including ebay , paypal , amazon , yahoo ! and others . shipworks offers multi-carrier shipping options and features including sending email notifications to buyers , updating online order status , generating reports and many more . the acquisitions of shipstation and shipworks represent a significant strategic investment in our high volume and e-commerce shipping business . please see note 3 – “ acquisitions ” in our notes to consolidated financial statements for further description . results of operations the results of our operations during the year ended december 31 , 2014 includes operations of shipstation from the period june 10 , 2014 through december 31 , 2014 and shipworks from the period august 29 , 2014 through december 31 , 2014. please see note 3 – “ acquisitions ” in our notes to consolidated financial statements for further description . years ended december 31 , 2014 and 2013 total revenue increased 15 % to $ 147.3 million in 2014 from $ 127.8 million in 2013. mailing and shipping revenue , which includes service revenue , product revenue and insurance revenue , was $ 141.8 million in 2014 , an increase of 15 % from $ 123.1 million in 2013. photostamps revenue increased 16 % to $ 5.4 million in 2014 from $ 4.7 million in 2013. the following table sets forth the breakdown of revenue for 2014 and 2013 and the resulting percent change ( revenue in thousands ) : replace_table_token_6_th core mailing and shipping revenue in 2014 was $ 139.7 million , an increase of 16 % from $ 120.2 million in 2013. non-core mailing and shipping revenue in 2014 was $ 2.1 million , a decrease of 26 % from $ 2.9 million in 2013 . 29 the following table sets forth the breakdown of mailing and shipping revenue , which includes core mailing and shipping revenue and non-core mailing and shipping revenue for 2014 and 2013 and the resulting percent change ( revenue in thousands ) : replace_table_token_7_th the increase in core mailing and shipping revenue was driven by both an increase in annual average paid customers and an increase in annual average revenue per paid customer . annual average paid customers increased 7 % to 500,000 in 2014 from 466,000 in 2013. annual average revenue per paid customer increased 8 % to $ 280 in 2014 from $ 258 in 2013. the decrease in non-core mailing and shipping revenue was primarily attributable to lower marketing spend in the online enhanced promotion channel . we expect non-core mailing and shipping revenue will continue to be down in 2015 compared to 2014 as we expect to continue to minimize investments in these areas of our business . we define paid customers for the quarter as ones from whom we successfully collected service fees at least once during that quarter , and we define average paid customers for the year as the average of the paid customers for each of the four quarters during the year . the following table sets forth the number of paid customers in the period for our core mailing and shipping business ( in thousands ) : replace_table_token_8_th the following table sets forth the growth in paid customers and average annual revenue per paid customer for our core mailing and shipping business ( in thousands except average annual revenue per paid customer ) : replace_table_token_9_th the increase in paid customers is primarily driven by ( 1 ) a higher number of stamps.com new paid customers compared to the prior year as a result of our increased spending in core mailing and shipping marketing channels , ( 2 ) the addition of new paid customers from shipstation and shipworks as a result of our acquisitions in 2014 , and ( 3 ) our customer churn rates remained at levels that were consistent with the prior year . for our core mailing and shipping business , our average annual and monthly core mailing and shipping revenue per paid customer in 2014 was $ 280 and $ 23.27 , respectively , which increased by 8 % compared to $ 258 and $ 21.51 , respectively , in 2013. the increase in average revenue per paid customer ( “ arpu ” ) was primarily the result of the addition of new paid customers from our acquisitions of shipstation and shipworks where the arpu for those newly acquired paid customers is higher as compared to the arpu from the existing stamps.com small business customers as well as growth in stamps.com 's high volume shipping business . story_separator_special_tag 35 the following table sets forth the number of paid customers in the period for our core mailing and shipping business ( in thousands ) : replace_table_token_15_th the following table sets forth the growth in paid customers and average annual revenue per paid customer for our core mailing and shipping business ( in thousands except average annual revenue per paid customer ) : replace_table_token_16_th the increase in paid customers is primarily driven by an increased number of new customers acquired , which was driven by our increased spend in core mailing and shipping marketing channels , while our lost customer churn rates remained at levels that were consistent with the prior year . for our core mailing and shipping business , our average annual and monthly core mailing and shipping revenue per paid customer in 2013 was $ 258 and $ 21.51 respectively , which increased by 2 % compared to $ 254 and $ 21.18 , respectively in 2012. the increase in average revenue per paid customer was primarily attributable to higher service revenue per paid customer from our high volume shipping and enterprise customers and higher store revenue per paid customer from increased sales of netstamps labels ; partially offset by a reduction in revenue per paid customer from our amazon partnership . revenue by product the following table shows our components of revenue and their respective percentages of total revenue for the periods indicated ( in thousands except percentage ) : replace_table_token_17_th our revenue is derived primarily from five sources : ( 1 ) service revenue from subscription , transaction and other fees related to our mailing and shipping services and integrations ; ( 2 ) product revenue from the direct sale of consumables and supplies through our supplies store ; ( 3 ) insurance revenue from the sale of package insurance to our customers ; ( 4 ) photostamps revenue from selling sheets of photostamps postage ; and ( 5 ) other revenue , consisting primarily of advertising revenue derived from advertising programs with our existing customers . service revenue increased 12 % to $ 99.0 million in 2013 from $ 88.2 million in 2012. the 12 % increase in service revenue in 2013 consisted of a 12 % increase in service revenue from our core mailing and shipping business while the service revenue from our non-core mailing and shipping business decreased 5 % . the 12 % increase in our core mailing and shipping service revenue consisted of an 11 % increase in our annual average paid customers and a 2 % increase in our annual average revenue per paid customer . 36 product revenue increased 13 % to $ 16.6 million in 2013 from $ 14.7 million in 2012. the increase was primarily attributable to the following : ( 1 ) increase in netstamps label sales ; ( 2 ) growth in our paid customer base ; ( 3 ) the postal rate increase in january 2013 , which generated incremental label sales for the period of time around the rate increase ; ( 4 ) marketing our supplies store to our existing customer base ; and ( 5 ) growth in postage printed , which helps drive sales of consumable supplies such as labels . total postage printed by customers using our service in 2013 was $ 1.6 billion , a 36 % increase from the $ 1.1 billion printed in 2012. insurance revenue increased 6 % to $ 7.5 million in 2013 from $ 7.1 million in 2012. this increase was primarily attributable to increased insurance purchases by our high volume shippers , partially offset by a reduction in insurance revenue through our amazon partnership . we continued to reduce our photostamps sales and marketing spending in 2013 compared with 2012 , and plan to continue to reduce our sales and marketing spending on photostamps in future periods to maintain or improve profitability in that business , although we believe that there may be potential opportunities to grow the business in a better economic environment . as a result of this decision photostamps revenue decreased 17 % to $ 4.7 million in 2013 from $ 5.7 million in 2012. total photostamps sheets shipped in 2013 decreased 20 % to 255 thousand compared to 2012 and average revenue per photostamps sheet shipped increased 4 % to $ 18.50 in 2013 compared to 2012. the decrease in sheets shipped was primarily attributable to our lower marketing spend and the increase in average revenue per sheet shipped was primarily attributable to less discounting on custom negotiated pricing . cost of revenue the following table shows cost of revenues and cost of revenues as a percentage of its associated revenue for the periods indicated ( in thousands except percentage ) : replace_table_token_18_th cost of service revenue principally consists of the cost of customer service , certain promotional expenses , system operating costs , credit card processing fees and customer misprints that do not qualify for reimbursement from the usps . cost of product revenue principally consists of the cost of products sold through our mailing & shipping supplies store and the related costs of shipping and handling . the cost of insurance revenue principally consists of parcel insurance offering costs . cost of photostamps revenue principally consists of the face value of postage , customer service , image review costs , and printing and fulfillment costs . cost of service revenue decreased 2 % to $ 15.4 million in 2013 from $ 15.7 million in 2012. the decrease in cost of service revenue is primarily attributable to lower promotional expense as a result of a decrease in our coupon redemption rate , partially offset by higher system operating costs , credit card processing fees and customer service costs reflecting the growth in our business and our associated investments to support that growth . promotional expense , which represents a material portion of total cost of service revenue , is expensed in the period in which a

