IdeaLab-backed Internet Brands (INET) is going public this week. This Internet media company owns CarsDirect, WikiTravel, FlyerTalk.com, among other sites.
All quotations are from the companies' most recent S-1 filings with links provided.
We are an Internet media company that builds, acquires and enhances branded websites in categories marked by high consumer involvement, strong advertising spending, and significant fragmentation in offline sources of consumer information. We operate a rapidly growing network of websites, currently grouped into three vertical categories: automotive, travel and leisure, and home and home improvement. We currently operate 45 principal websites. Utilizing a cost-efficient, proprietary operating platform, we operate and enhance websites that attract consumers through rich content, opportunities for participation in strong online communities, and user-friendly functionality. Our websites collectively attract large audiences researching high-value or specialty products, enabling us to sell targeted advertising. We also offer certain services directly to consumers, such as new car brokering.
Offering: 9.6 million shares $10.00 - $12.00 per share. Net proceeds of approximately $34.9 million will be used for general corporate purposes, which may include working capital, capital expenditures and possible future acquisitions.
Lead Underwriters: Thomas Weisel, Jefferies
Total revenues increased $6.7 million, or 8.6% to $67,752,000, for the year ended December 31, 2006 compared to $63,028,000 for the year ended December 31, 2005...Cost of revenues increased $4.7 million, or 29.2% to $21,014,000 for the year ended December 31, 2006 compared to $16,267,000 for the year ended December 31, 2005... Sales and marketing expenses decreased $1.5 million, or 6.7% to $20,628,000 for the year ended December 31, 2006 compared to $22,121,000 for the year ended December 31, 2005.
- Company website
- Online road show
- Tech Confidential: 'Internet Brands launches Zillow competitor'
- Paid Content: 'Internet Brands to Raise up to $45 Million in IPO'