News Brief: Quinstreet Files for IPO
A name known to many but a company still unknown below the surface, Quinstreet announced plans to raise $250mm in an IPO and trade under the symbol QNST. Having had their founder and CEO, Doug Valenti, on a panel at LeadsCon, it was a first opportunity for many of us to get a feel for their operation. There are volumes to be said on this, and a more detailed post is coming. If only we were part of the ex-Quinstreet list serv. Overall, a tremendous day for online lead generation, and we should all congratulate and thank Quinstreet, as a successful IPO will help list the entire industry and practice. Not everyone likes them, but for now, we should all root for them.
Here is what I wrote on my personal blog:
The day many of us have been waiting for (including Quinstreet) has arrived – the Quinstreet IPO. After years of speculation and some unanticipated market twists, Quinstreet announced its intention to go public, filing their S-1. For a company that has been incredibly secretive closed lipped, the S-1 is an amazing look under the hood of one of the most intriguing companies in the online lead generation space. It details their acquisition history, and while many of us knew about their acquisitive nature, none would have expected it to include more than 100 purchases with at least four eight figure deals. The Quinstreet today is no longer an education lead generation business. They are a roll-up and have been a source of liquidity for countless smaller publishers who sites earn revenue through lead generation. And, today they are a diversified play with some large client concentration but only 50% of the business being edu.
Much more to be said on the topic.
