History
The company was founded in 1998 as CarsDirect.com, launched from the business incubator Idealab. The company invented a consumer-advocacy approach to selling cars "haggle-free" online, an approach it continues to employ. In 2000, Roger Penske invested in the company and joined the Board of Directors. In 2002, Time Magazine voted the site one of the 50 best in the world.
The company changed its name to Internet Brands in 2005. The company's IPO was in November 2007 on the NASDAQ exchange. INET was added to the NASDAQ Internet Index on March 22, 2010.
Internet Brands is headquartered in El Segundo, California; Autodata is headquartered in London, Ontario.
Internet Brands agreed to be acquired for $640 million by the private equity firm Hellman & Friedman in September 2010, and was thus delisted from NASDAQ.
Read more about this topic: Internet Brands
Famous quotes containing the word history:
“It’s nice to be a part of history but people should get it right. I may not be perfect, but I’m bloody close.”
—John Lydon (formerly Johnny Rotten)
“The visual is sorely undervalued in modern scholarship. Art history has attained only a fraction of the conceptual sophistication of literary criticism.... Drunk with self-love, criticism has hugely overestimated the centrality of language to western culture. It has failed to see the electrifying sign language of images.”
—Camille Paglia (b. 1947)
“The history of American politics is littered with bodies of people who took so pure a position that they had no clout at all.”
—Ben C. Bradlee (b. 1921)