LOS ANGELES, July 19, 2022 /PRNewswire/ -- In the wake of very rapid growth of the company, Internet Brands has completed a recapitalization with its long-term investors KKR and Temasek, and a group of new investors led by Warburg Pincus, at a valuation of more than $12 billion. KKR will remain the majority investor in the company.
"While Internet Brands has grown 8X since KKR's initial investment in 2014, we know the greatest opportunities for us are still ahead," said Bob Brisco, CEO of Internet Brands. "We have established clear leadership in many of our vertical markets, including Consumer Health, Consumer Legal, and Healthcare Professionals – and we have never been more excited about our strategic roadmap."
"I'm thrilled to welcome this accomplished group of new investors, most especially Warburg Pincus, whose co-head of U.S. Private Equity, Mark Colodny, has joined the Internet Brands board. I must also say that I couldn't be more grateful to continue deepening our relationships with KKR and Temasek, as our strategic partnership remains a genuine privilege," Brisco added.
"Internet Brands is an exciting growth company that has built best-in-class online media properties and software platforms across numerous vertical markets while capitalizing on the ongoing transition to digital advertising," said Mark Colodny, Co-Head of U.S. Private Equity and Head of Technology, Warburg Pincus.
"Bob and his talented team have built a leading internet company focused on serving the needs of its customers with innovative solutions. We have known and admired Bob and his team for many years, and look forward to partnering with Internet Brands, KKR and Temasek on this next stage of growth," added Justin Sadrian, Managing Director, Warburg Pincus.
"We are proud of the tremendous progress that the Internet Brands leadership team has spearheaded over the past eight years," said John Park, Partner at KKR. "We see the company entering a new stage of meaningful growth and look forward to supporting this talented team further as they continue to innovate and scale."
Internet Brands®, headquartered in El Segundo, Calif, is a fully integrated online media and software services company focused on four high-value vertical categories: Health, Automotive, Legal, and Home/Travel. The company's properties and platforms include the WebMD, Medscape, and Henry Schein ONE networks, which are the global leaders in their markets; Nolo, Avvo, and Martindale, which form the largest consumer information provider in the legal market; and CarsDirect, Fodor's Travel, and many others which are leaders in their key verticals such as auto, travel, and home.
Internet Brands' award-winning consumer websites lead their categories and serve more than 250 million monthly visitors, while a full range of web presence offerings has established deep, long-term relationships with SMB and enterprise clients. Internet Brands' powerful, proprietary operating platform provides the flexibility and scalability to fuel the company's continued growth. For more information, please visit www.internetbrands.com and follow us on LinkedIn.
Warburg Pincus LLC is a leading global growth investor. The firm has more than $85 billion in assets under management. The firm's active portfolio of more than 250 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 21 private equity and 2 real estate funds, which have invested more than $106 billion in over 1,000 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com. Follow us on LinkedIn.
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
Temasek is an investment company with a net portfolio value of S$403 billion (US$297b) as at 31 March 2022. Our Purpose "So Every Generation Prospers" guides us to make a difference for today's and future generations. Our Temasek Charter defines our three roles as an Investor, Institution and Steward, and shapes our ethos to do well, do right and do good. Sustainability is at the core of all that we do. We are committed to catalysing solutions to global challenges and activating capital – financial, human, social and natural – to bring about a better and more inclusive world for all. Headquartered in Singapore, we have 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen and Singapore in Asia; and London, Brussels, New York, San Francisco, Washington DC, Mexico City, and Sao Paulo outside Asia. For more information on Temasek, please visit www.temasek.com.sg
SOURCE Internet Brands