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Internet Brands, the Internet holding company with several e-commerce websites, is looking to raises up to $45 million with an IPO. Initially announced over the summer, Internet Brands will sell 3.75 million shares at $10-$12 each, on the NASDAQ under the ticker INET. Another 5.8 million shares will be sold by existing shareholders.
It's revenues have actually declined this year, but not by much, sliding down from $65.2 million to $64.9 million. This has been attributed to the slowing interest in the consumer Internet segment, especially for the auto industry. With 35 acquisitions this year, including Jelsoft Enterprises' vBulletin and ePodunk, it's been looking to improve the communications technology across its growing network of commerce sites.
While the financial terms of vBulletin's acquisition were not disclosed, the acquisitions by Internet Brands total $84.8 million. Microsoft has also spoken towards an acquisition strategy, aiming for 20 companies per year in order to achieve aggressive growth and development.
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