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:
“The foregoing generations beheld God and nature face to face; we, through their eyes. Why should not we also enjoy an original relation to the universe? Why should not we have a poetry and philosophy of insight and not of tradition, and a religion by revelation to us, and not the history of theirs?”
—Ralph Waldo Emerson (1803–1882)
“Racism is an ism to which everyone in the world today is exposed; for or against, we must take sides. And the history of the future will differ according to the decision which we make.”
—Ruth Benedict (1887–1948)
“All history is a record of the power of minorities, and of minorities of one.”
—Ralph Waldo Emerson (1803–1882)