Advertising - Friday, November 20, 2009
Lead Gen's QuinStreet Files $250M IPO
Foster City-based lead generation giant QuinStreet has filed for a $250M IPO. The company saw $260M in revenue for the fiscal year ending June 30 (an uptick of 35% over the prior year), with net income of around $17.2M. QuinStreet has raised nearly $60M in funding, from VC firms led by Split Rock Partners, Sutter Hill Venture, Granite Global Ventures, and Catterton Partners. The biggest shareholder is CEO Douglas Valenti, who owns an 18.33% stake.
QuinStreet is similar to something like InternetBrands in that it grows mainly through acquisitions, generally of fairly small lead generation focused Web sites. It has done over 100 acquisitions of third-websites for a a total of $189.5M. Those deals have gotten larger and larger as Last month QuinStreet paid $16M for Insure.com,, and its also recently bought Internet.com from WebMediaBrands for about $18M.
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