Thursday, February 18, 2010
Internet Brands 2009 Acquisition Total: $24.2M
Los Angeles-based Internet Brands revealed it spent $24.2M in acquisitions, earnout, and holdbacks during 2009, as part of its 2009 fiscal results release. The firm--which just this morning said it bought seven consumer websites for its health and home verticals--also revealed that the most recent purchases announced today cost it $8.1M. In addition to those details, Internet Brands said it is now seeing a monthly average of 50 million total monthly unique visitors to its collection of web sites, with a total of 56.5 million in January. Internet Brands said it had net income of $4.3M in the fourth quarter on revenues of $27.7M. The firm's results were helped by increases in consumer Internet advertising revenue and licensing revenues, but hurt by a continuing weakness in its automotive e-commerce efforts.