QuinStreet, the Foster City, CA-based vertical media and marketing firm that is in the process of buying the Internet.com division from WebMediaBrands (NSDQ: WEBM), has paid what some are saying is the highest ever for a domain name: $16 million for Insure.com, and its related media assets (unclear what those are, which may explain the supposed rather inflated price). We have a query out to QuinStreet about what exactly did the company buy besides the domain name and will update it when we hear back.
Quin is buying the Internet.com division for $18 million. Release.
Insure.com is a Nasdaq-traded public company, and was founded in 1984 as Quotesmith Corporation. It primarily functions as a consumer info service and companion insurance brokerage service that caters to the needs of insurance shoppers. With this sale, the company will change its name to Life Quotes, focusing on its national brokerage services, insurance agents, call center operations, customer and prospect lists, and nearly all of its current inbound affiliate and traffic partnerships. The company bought the domain name in 2001 for $1.6 million.
Meanwhile, for QuinStreet, likely Insure.com will morph into an info website with online leads, a bit like BankRate (which was recently acquired by Apax Partners for $571 million in cash).