Internet Brands Acquires 5 Websites For $1.6 Million
Internet Brands Inc. (NASDAQ:INET) has acquired 5 website properties for $1.6 million. The 5 acquisitions were revealed by Internet Brands’ quarterly earnings report last week.
A couple of the acquired properties will be rolled into the company’s Money and Business vertical. Some of the websites acquired are FinWeb.com, SmallBusinessNotes.com, and Outblush.com. FinWeb receives about 50,000 unique visitors per month, SmallBusinessNotes receives about 65,000 per month, and Outblush is also around 50,000. The other couple of websites were not revealed.
Last quarter, Internet Brands bought 3 automotive-related websites for $2.7 million. Before Internet Brands was born, they were known as CarsDirect.com. CarsDirect was launched from incubator Idealab.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry