Internet Brands Files IPO; Hopes to Raise $100M

Jul 24, 2007

Internet Brands filed in an effort to raise up to $100 million in its planned initial public offering of common stock. The company did not state how many shares it plans to sell, nor did it give an anticipated price range. A planned symbol was also not announced and the company has not determined if it will apply for listing on the NASDAQ Global Market or the New York Stock Exchange. The company plans to use its proceeds for general corporate purposes. Credit Suisse and Thomas Weisel Partners LLC are listed as underwriters. Idealab and affiliated entities held 37.52% of the company's shares before the offering. Director William Gross also held 37.52%. Internet Brands is a provider of internet software serivices and operator of media, ecommerce, and community websites.