Quinstreet files to go public.
Lead generation company Quinstreet, which bought the Insure.com web site for $16 million in October, has filed for it initial public offering.
In its S-1 Securities and Exchange Commission filing for the IPO, the company reported fiscal year 2009 revenue of $261 million with a net income of $17 million.
Quinstreet notes little about the Insure.com acquisition in its S-1:
In October 2009, the Company acquired the website business of Insure.com, a Nebraska-based online marketing company, in exchange for $15 million in cash paid upon closing of the acquisition and a $1 million non-interest-bearing, unsecured promissory note.
The insure.com transaction is one of nearly a hundred acquisitions the company has made over the past two years, and the company isn’t stopping there:
Our growth over the past several years is in significant part due to the large number of acquisitions we have completed. Since the beginning of fiscal year 2007, we have completed over 100 acquisitions of third-party website publishing businesses and other businesses that are complementary to our own for an aggregate purchase price of approximately $189.5 million. We intend to pursue acquisitions of complementary businesses and technologies to expand our capabilities, client base and media.
The company plans to list on NASDAQ under the symbol QNST.