QuinStreet, Inc. acquired certain Ziff Davis Enterprise (ZDE), Inc. media assets, including websites eWeek.com, CIOInsight.com, Baseline.com, ChannelInsider.com, and WebBuyersGuide.com, among others, as well as ZDE's B2B email and telephone subscriber database. These properties are designed to aid purchasing decisions and provide B2B technology vendors with targeted advertising and opportunities to engage with customer prospects online.
The ZDE asset acquisition will enhance QuinStreet's delivery of webinars, eseminars, and mobile marketing solutions. QuinStreet reports a current estimated annual marketing spend of $8 billion in North America -- of which, $3 billion is spent on online marketing.
QuinStreet, Inc. provides internet marketing and media solutions and claims its properties reach over 20 million B2B technology visitors monthly through its media portfolio, email newsletters, email bulletins, publisher network, and other media channels.
In related news: Immediately following the sale, as many as 30 ZDE employees were terminated. In the coming weeks, after assisting in the transition of assets and ongoing business operations to QuinStreet, 100 more ZDE employees will be cut from a total workforce of 120. According to reports, ZDE CEO Steve Weitzner is leaving the company and CFO Michael Caruso will stay for a short transition period.