August 6, 2008
Internet Brands Expands Into Shopping and Careers Categories
Internet Brands, Inc. (NASDAQ:INET) announced today expansion into two large verticals, Shopping and Careers, with the acquisition of 12 websites. With this strategic expansion, the Company's Consumer Internet division now operates in five verticals, including auto, careers, home, shopping, and travel and leisure.
The new Shopping vertical leverages Internet Brands' operating platform for managing traffic and monetization. The primary focus is on:
-- High Demand Consumer Products (such as consumer electronics)
"Internet users are searching much more for online discounts than ever before," said Bob Brisco, CEO of Internet Brands. "In this soft economy, the trend is accelerating."
The Company's Shopping vertical includes the acquisition of four value shopping sites:
Bargainist.com, a very rapidly growing site that lists deals, sales and coupons on thousands of everyday products.
Boddit.com, a search engine that allows consumers to discover deals on thousands of products by aggregating deals from popular bargain hunting websites.
DealLocker.com, a very rapidly growing collection of current deals and coupons that is propelled by user submissions.
UltimateCoupons.com, a listing of free coupons, coupon codes, sales, and special deals for online shoppers.
The new Careers vertical leverages Internet Brands' strength in content and community management. The primary focus is on:
-- Careers with persistent labor shortages (such as nursing, hospital jobs, certain types of aviation workers, or truck drivers), or
-- Careers that are self-directed or self-employed (such as freelancers or work-at-home jobs)
"We are focused on high growth employment markets that are always active," said Brisco. "We operate in precise, niche markets with high user and advertiser demand. We believe that the Internet employment market is evolving toward high-engagement sites that deliver value in addition to job listings, such as community interaction, insider-type information, and the ability to review work portfolios."
Internet Brands' Careers vertical currently comprises 10 websites, each focused on a specific profession or industry. The sites include traditional employment listings sites; portfolio sites, where job seekers can upload samples of their work for viewing by potential customers; and career community sites, where users can obtain guidance and advice on various aspects of their careers from industry colleagues.
The full listing of sites in the Careers vertical is as follows:
AirlinePilotCentral.com, a leading career community for airline pilots, with a focus on career planning and salary information.
AviationEmployment.com, an employment listings site focusing on global aviation and aerospace employment opportunities.
ClassADrivers.com, the leading online source for trucking employment opportunity listings in North America and the largest community site for truck drivers.
HospitalJobsOnline.com, a site that brings together job seekers and employers from across the medical and healthcare spectrum, including medical doctors.
iFreelance.com, a leading portfolio and directory site for freelancer workers such as graphic designers, computer developers, and business consultants.
ModelMayhem.com, the leading portfolio website for models, photographers, makeup artists, hair stylists, and other modeling industry professionals.
NursingJobs.org, a leading nursing employment opportunity job board with listings from across the United States.
PPRuNe.org (The Professional Pilots Rumour Network), a community site for aviation professionals from around the world to discuss all aspects of their careers. PPRuNe.org was formerly part of the Company's Travel and Leisure division. The Company acquired this website in 2007.
RealPolice.net, a law enforcement career resource and community site offering career opportunity listings, officer training information, and career support discussion forums.
WAHM.com (Work At Home Moms), the leading resource for work at home employment, featuring work at home and home-based business opportunity listings and a community discussion forum.
Company management will discuss the new verticals and acquisitions on the Company's earnings results call, scheduled for 2:00 p.m. Pacific Time today.
About Internet Brands, Inc.
Los Angeles-based Internet Brands, Inc. (NASDAQ:INET) is a leading Internet media company that operates community and e-commerce web sites in automotive, travel and leisure, shopping, career and home related categories. With a flexible and scalable platform, Internet Brands operates a rapidly growing network of more than 200 websites, 76 of which each receive more than 100,000 monthly unique visitors. Internet Brands was founded in 1998 as CarsDirect.com and added the parent company name of Internet Brands in 2005.