Online Marketing/Media Firm Quinstreet Files for $250 Million IPO

Quinstreet, the Foster City, CA-based vertical media and marketing firm that recently bought and, has filed for an IPO to raise as much as $250 million, according to its S1. Last month Quin paid $16 million for, and its related media assets, and the month before it bought division from WebMediaBrands (NSDQ: WEBM) for about $18 million. The company plans to list on Nasdaq under “QNST”.

The company, founded in 1999, has raised a total of about $60 million in VC funding, from firms like Split Rock Partners (16.4 percent), Sutter Hill Ventures (10.55 percent), Granite Global Ventures (7.05 percent), Catterton Partners (5.87 percent), Focus Ventures, Rosewood Capital,Charter (NSDQ: CHTR) Growth Capital, VSP Capital, J&W Seligman and Stanford University. It has grown mainly through acquisitions; from its filing: “Since the beginning of fiscal year 2007, we have completed over 100 acquisitions of third-party website publishing businesses and other businesses that are complementary to our own for an aggregate purchase price of approximately $189.5 million.” That’s a lot of companies to swallow, and it says it plans to continue doing so. It reported $260 million in revenue for its fiscal year ending June 30, with net income of around $17.2 million.