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Internet.com Sold for $18 Million

Alan Meckler's WebMediaBrands Sells to QuinStreet

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WebMediaBrands (formerly JupiterMedia) has just announced that it is selling Internet.com for $18 million to QuinStreet Inc. QuinStreet calls itself the leader in online performance-based vertical marketing.

“We believe that this transaction will be beneficial to WebMediaBrands and its stockholders as it will significantly improve our balance sheet and at the same time allow us to focus on growing BtoB communities in the non-tech space,” said WebMediaBrands Chairman and CEO Alan Meckler in a statement.

Meckler Tweets

From the release:

The Board of Directors of WebMediaBrands unanimously approved the transaction and resolved to recommend that WebMediaBrands’ stockholders approve the transaction. Completion of the transaction is subject to approval by WebMediaBrands’ stockholders and other customary closing conditions. In addition, Alan M. Meckler, WebMediaBrands’ Chairman and Chief Executive Officer, and certain other stockholders, who, with Mr. Meckler, collectively hold approximately 39.5% of WebMediaBrands’ outstanding stock, have entered into definitive support agreements with QuinStreet, Inc. to vote a total of 37% of WebMediaBrands’ outstanding stock in favor of the transaction. The transaction is not subject to a financing condition. WebMediaBrands expects the transaction to be free of taxes.

WebmediaBrands will continue operating its online business, which still includes sites like MediaBistro.com and Graphics.com, as well as job boards, online education offering, and tradeshows.

Internet.com Sold for $18 Million
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  • http://bnctovga.com BNC Guy

    I know that domains with websites (and businesses) attached have been sold for a lot of money, but it seems like this is the most expensive domain-only sale ever, right? I seem to remember an adult-themed domain selling for $14m a few years ago and being the most expensive one at the time…