Contact Information: Contact: Joe Ewaskiw Internet Brands (310) 280-4539 Laura Foster ICR, Inc. (310) 954-1100
Internet Brands Announces Entry Into "Money and Business" Vertical
Further Expansion Into High-Interest Consumer Categories Includes Two New Acquisitions
| Source: Internet Brands, Inc.
LOS ANGELES, CA--(Marketwire - April 29, 2009) - Internet Brands, Inc. (NASDAQ : INET )
announced expansion into the "Money and Business" vertical today. With this
new category, the company's Consumer Internet division now operates in six
verticals: automotive, careers, home, money and business, shopping, and
travel and leisure.
The Money and Business vertical further enhances Internet Brands' focus on
high-interest consumer categories and leverages the company's expertise in
online content and community management. The new vertical consists of both
content and community websites that provide a wide variety of information
and resources for people to manage their personal finances or run their own
business.
"Our Money and Business websites give consumers the resources they need to
navigate the current economic situation," said Bob Brisco, CEO of Internet
Brands. "The state of the economy is causing consumers to take a close look
at their finances and explore various options to improve their financial
situations."
The Money and Business vertical consists of six websites, including the
following two websites acquired by the company in the first quarter of
2009:
FinWeb.com - Educates users on
personal finance topics such as insurance, taxes, investing and loans.
SmallBusinessNotes.com -
Informs small business owners about ways to improve their businesses,
including planning, financing, marketing, and operations.
The new acquisitions join the following four websites already owned by the
company to comprise the vertical:
Mortgage101.com - Provides
educational resources for personal loans and mortgages and an innovative
rate directory that educates consumers about the lending process and helps
consumers find lenders with the lowest lending rates and consumer friendly
lending practices.
Loan.com - Educates consumers about the
lending process and helps consumers find ethical lenders with the lowest
rates.
CreditorWeb.com - A powerful
resource to compare credit card offers from a wide variety of credit card
issuers, including small business and student credit cards.
BrokerOutpost.com - One of the
largest online communities for mortgage brokers and lenders, the website
helps mortgage professionals network, solve difficult loan scenarios, and
post questions and get answers on industry-related issues.
Company management will discuss the new vertical and acquisitions on the
company's first quarter 2009 earnings call, scheduled for 1:30 p.m. Pacific
Time today.
About Internet Brands
Los Angeles-based Internet Brands, Inc. (NASDAQ : INET ) is a leading
Internet media company that owns, operates and grows community and
e-commerce websites in the automotive, careers, home, money and business,
shopping and travel and leisure categories. With a flexible and scalable
platform, Internet Brands operates a rapidly growing network of more than
200 websites, of which more than 80 each receive more than 100,000 monthly
unique visitors. In March of 2009, the company's websites received more
than 49 million unique visitors. More than 95% of the traffic to the
company's websites is from non-paid sources.