Background:

Internet Brands, Inc. (previously NASDAQ: INET) was a unique and high-profile Internet media company. INET owned and operated more than 100 websites that were leaders in their respective vertical markets. These sites included ApartmentRatings.com, CarsDirect.com, CruiseReviews.com, DavesGarden.com, DoItYourself.com, FitDay.com, FlyerTalk.com, HealthNews.org, Loan.com, Wikitravel.org and many more. In total, these sites organically attracted (without paid marketing) approximately 58 million unique visitors per month at the time of Battery’s investment. The vast majority of its sites also boasted very strong community participation.

INET was also unique in its ability to monetize Internet audiences. The company’s proprietary platform optimized yields from its more than 40,000 direct advertisers spanning seven vertical categories. The platform was also core to the company’s acquisitions strategy, providing a cost-efficient and scalable approach to expanding the company’s online footprint.

In March 2009, Battery made a growth-equity investment in the public company.

Outcome:

In September 2010, Internet Brands was acquired by private-equity investment firm Hellman & Friedman in a take-private transaction valued at approximately $640 million.