Friday, September 3, 2010

InsWeb Acquires Potrero Media

Sacramento-based InsWeb, which operates an online insurance comparison shopping site, said earlier this week that it is in a definitive agreement to acquire San Francisco-based Potrero Media Corporation, a performance-based marketing agency. The deal was worth up to $12M, including $6M in cash, $1.5M in cash on the one year anniversary of the closing, $1.5M in InsWeb stock, and up to $3M in earn out. InsWeb said that Potrero Media is a "formidable player" in search marketing and online lead generation for the insurance industry. InsWeb said Potrero's 2009 reveies were approximately $12.3M.