Internet Brands Buys Two Web Sites, Looks To Future Acquisitions

Los Angeles-based Internet Brands disclosed Tuesday as part of its earnings report that the firm has purchased two web sites,, and Financial terms of those buys were not disclosed, however Internet Brands said it spend $10.7M on the buy of four companies during Q3. The firm also said it has acquired another unnamed site, which was completed subsequent to Q3. is a discount and coupon shopping site, and becomes part of the firm's Shopping vertical; is an online jobs search site focused on part-time, seasonal, and hourly jobs. Separately, Internet Brands said it has secured a $35M revolving line of credit from Silicon Valley Bank, which it plans to use for acquisitions starting in mid-2009. The firm did not detail its acquisitions plans, but did say that it has completed 25 website related acquisitions in the last nine months, spending $59.9M on those web site buys. The news came as Internet Brands reported record revenues of $26.9M, due to increased advertising on both existing and acquired websites, partially offset by a reduction in spending from automotive dealers.