CarsDirect Selects Internet Brands, Inc. as Its New Parent Company Name; Name Change Signals Company's Rapid Expansion into 'Big Ticket' Consumer Categories.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- CarsDirect, a leader in the online automotive category, today announced that it has selected Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Brands, Inc. as its new parent company name, effective immediately. The name reflects the company's ongoing and aggressive expansion into "big ticket" consumer transaction categories, such as home mortgage lending. Internet Brands (www.internetbrandsinc.com) will serve as the banner for the company's consumer brands, including CarsDirect.com, Autos.com, Autodata Solutions, LoanStore.com, BestRate.com and LoanApp.com. "This is an exciting moment for our company," said Bob Brisco Brisco may refer to:
Since its launch in 1998, Internet Brands has grown from a start-up Start-up The earliest stage of a new business venture. enterprise dedicated to redefining the consumer car buyer experience to a company that successfully serves and satisfies millions of consumers through multiple online media and transaction-based businesses. Each month over 8 million unique visitors A count of how many different people access a Web site. For example, if a user leaves and comes back to the site five times during the measurement period, that person is counted as one unique visitor, but would count as five "user sessions. use the company's websites. During 2004, Internet Brands began its expansion into additional categories with the launch and acquisition of three premier home financing websites: LoanStore.com, LoanApp.com and BestRate.com. These business lines are profitable and growing rapidly. "We are exploring additional opportunities where we can quickly deploy extensions of our proven technologies and processes," said Brisco. "Our mission is to make consumers' lives easier in dealing with big ticket purchase decisions. We do this by providing them with the knowledge to make better decisions and the empowerment em·pow·er tr.v. em·pow·ered, em·pow·er·ing, em·pow·ers 1. To invest with power, especially legal power or official authority. See Synonyms at authorize. 2. to save time and save money." Internet Brands is well positioned for future expansion. The company has produced rapidly increasing levels of free cash flow for more than two years and has $130 million of available cash on the balance sheet. About Internet Brands Los LOS Length of stay, see there Angeles-based Internet Brands (www.internetbrandsinc.com) is a leading operator of media and e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. sites for "large ticket" consumer purchases, such as cars and mortgages. The company empowers consumers to make better product choices and achieve lower-cost transactions by providing them with superior content and knowledge. With its award winning technology expertise and customer service, Internet Brands delivers superior consumer experiences. The company is a pioneer in online media with a flexible e-commerce platform. Internet Brands is selectively expanding into additional, high-value consumer markets where it can leverage its business and technology platforms. The company's three automotive divisions, CarsDirect, Autos.com and Autodata Solutions offer industry-leading products and pricing information, new and pre-owned automobiles and related products and services. Internet Brands recently extended its award-winning Adj. 1. award-winning - having received awards; "this award-winning bridge spans a distance of five miles" service and technology expertise to the home mortgage lending market with the launch of LoanStore.com, a full-service brokerage and the acquisition of well-known brands LoanApp.com and BestRate.com. LoanApp.com and BestRate.com provide easy-to-digest consumer information about mortgage terms and loan types. Internet Brands was founded in 1998 as CarsDirect and added the new parent company name of Internet Brands in June 2005. |
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