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Internet Brands, an IdeaLab-backed internet holding company, hopes to raise up to $45 million through an IPO that was originally announced in July. The El Segundo, CA-based company, whose sites include CarsDirect, WikiTravel, FlyerTalk.com, along with several others, said in a filing that it would sell 3.75 million shares at $10-$12 each. Another 5.8 million shares will be sold by existing shareholders. Shares are to trade on the NASDAQ under the ticker “INET”. Filing.
Through the first three quarters of this year, Internet Brands had revenues of $64.9 million, down from $65.2 million in the year-ago period. The decline is associated with a deceleration in its consumer internet segment, in particular its auto business. So far this year, it has acquired 35 companies for $84.8 million, the largest of which was Jelsoft Enterprises, a maker of bulletin board software. It also recently purchased ePodunk, a site covering cities and small towns. In its filing, the company indicated that it plans to continue its aggressive acquisition strategy.