Tuesday, June 3, 2014

Internet Brands Welcomes KKR

Today at Internet Brands we announced that KKR will be assuming Hellman & Friedman's role as our primary financial sponsor and Board members, as we look to build upon our success and extend the Internet Brands franchises in the years ahead. Our management team will continue to run the company and will participate as meaningful minority shareholders.

At Internet Brands we have tremendous growth opportunities in front of us. We believe the KKR technology team understands our strategic plans and shares our excitement to extend our leadership in vertical solutions in markets such as Automotive, Legal, Health, Home and Travel.

Our partnership with H&F has been very constructive. As measured by a number of important metrics, we have roughly doubled in the last four years: revenues, ebitda, personnel, number of customers, and so forth. The H&F team challenged us, encouraged us, and supported us. We will miss them in our Board room.

At the same time, we warmly welcome the partnership with the KKR team and global brand and have a renewed sense of vigor as we pursue our mission with them.

To the entire IB family of employees (now 1,600+ strong), I congratulate you on what we have achieved together. And I believe the best is ahead.

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