QuinStreet
 | |
| Company type | Public |
|---|---|
| Nasdaq: QNST S&P 600 component | |
| Industry | Performance marketing, media online |
| Founded | 1999 |
| Founder | Doug Valenti |
| Headquarters | Foster City, California, U.S. |
Key people | Doug Valenti (CEO) Nina Bhanap (president and CTO) |
| Revenue | $580 million (2023[1]) |
Number of employees | 937 (2023)[2] |
| Website | www |
QuinStreet, Inc. is a publicly traded online marketing company based in Foster City, California. The company helps generate web traffic for clients by acquiring popular domain names.
The company was founded in 1999,[3] and was publicly listed in 2010.[4][5]
History
[edit]QuinStreet was formed in 1999 by Doug Valenti (chairman and CEO). Bronwyn Syiek, another founding team member, was president and COO. The company was first profitable in 2002 with revenues of $13 million; by April 2009, QuinStreet reported $300 million in annual revenues and approximately 450 employees.[6][7]
QuinStreet Inc. acquired U.S. Citizens for Fair Credit Card Terms, Inc, which operated the CardRatings.com website in August 2008 for an initial cash payment of $10.4 million.[8]
In the beginning of August 2009, QuinStreet Inc. used some of its cash reserves to acquire the Internet.com division of WebMediaBrands Inc. for $18 million.[9][10]
In September 2009, QuinStreet purchased Insure.com for $16 million.[11] The company's other financial-services properties include MoneyRates.com, Get Rich Slowly, ConsumerismCommentary.com and HSH.com.[12]
An initial public offering on February 11, 2010, raised $150 million, with the shares listed on Nasdaq under the symbol QNST.[13]
In September 2011, QuinStreet acquired the IT Business Edge (ITBE) network of web publications.[14]
In June 2012, the company was under investigation by the Attorneys General's offices of 15 separate US states, led by the Attorney General of Kentucky, Jack Conway.[15] The company was accused of targeting military veterans with deceptive recruiting practices for its for-profit school clients.[16] The company agreed to pay a $2.5 million fine and relinquish the website GIBill.com.[16]
In February 2012, the company acquired the media assets of Ziff Davis "Enterprise", which included eWeek.com, CIOInsight.com, Baseline.com, ChannelInsider.com and WebBuyersGuide.com, and others.[17]
In 2018, the company acquired AmOne, an online marketing company.[18] In 2019, Quinstreet acquired CloudControlMedia, LLC and MyBankTracker.com, LLC.[18][19][20]
In 2020, QuinStreet sold its B2B tech publications to TechnologyAdvice.[21] QuinStreet divested their education media, client and campaign assets on August 31, 2020.[22]
Business
[edit]Quinstreet's education clients have included Art Institutes, DeVry University, Kaplan University, University of Phoenix, Westwood, and other for-profit colleges.[23][24]
References
[edit]- ^ "10-K QuinStreet, Inc". sec.gov.
- ^ "10-K QuinStreet, Inc". sec.gov. Retrieved December 9, 2024.
- ^ "10-K QuinStreet, Inc". sec.gov. Retrieved December 9, 2024.
- ^ Conroy, Eric (February 8, 2010). "QuinStreet is a beacon of hope in IPO market". Journal Record. Retrieved November 20, 2024.
- ^ Yarbrough, Beau (February 11, 2010). "QuinStreet IPO: Cool welcome to Foster City online ad company". Mercury News. Retrieved December 1, 2024.
- ^ Geron, Tomio (August 18, 2009). "QuinStreet Publicly Boasts About Its Earnings". WSJ Blogs. Wall Street Journal. Retrieved January 5, 2011.
- ^ "QuinStreet, Inc". Company profile from Hoover's. Hoover's. 2011. Retrieved January 5, 2011.
- ^ "sv1". www.sec.gov. Retrieved September 28, 2016.
- ^ Ali, Rafat (August 9, 2009). "Meckler Selling Internet.com Business to QuinStreet For $18M; Exiting Tech Trade". paidContent. Retrieved January 5, 2011.
- ^ "WebMediaBrands Sells Internet.com to QuinStreet". InternetNews.com. internet.com. August 10, 2009. Retrieved January 5, 2011.
- ^ "QuinStreet buys Insure.com". San Francisco Business Times. October 12, 2009.
- ^ "QuinStreet Announces Acquisition of ConsumerismCommentary.com". QuinStreet. November 28, 2011.
- ^ "QuinStreet, Inc (QNST)". IPO record. NASDAQ. February 11, 2010. Retrieved October 6, 2013.
- ^ "QuinStreet, Inc. - QuinStreet Announces Acquisition of IT Business Edge". investor.quinstreet.com. Retrieved October 5, 2016.
- ^ "Fifteen State Attorneys General To Investigate Company Marketing For-Profit Colleges To Veterans". ThinkProgress. June 6, 2012. Archived from the original on April 14, 2024.
- ^ a b "QuinStreet settles complaints it misled veterans". San Francisco Chronicle. June 28, 2012.
- ^ "QuinStreet Acquires Ziff Davis Enterprise Media Assets". QuinStreet. February 6, 2012. Archived from the original on November 5, 2013.
- ^ a b SEC. "Quinstreet, Inc 2019 Quarterly Report 10-Q". SEC.report. Retrieved May 15, 2020.
- ^ "QNST.A - QuinStreet Inc Key Developments". Reuters. Retrieved May 15, 2020.[dead link]
- ^ "QuinStreet buys digital marketing agency". www.spglobal.com. Retrieved May 15, 2020.
- ^ "eWEEK Moves to New Publisher, TechnologyAdvice.com". eweek.com. Retrieved May 14, 2021.
- ^ https://coverager.com/quinstreet-announces-divestiture-of-education-client-vertical/
- ^ Halperin, David (February 1, 2016). "Military-Branded Websites Push Veterans to Troubled For-Profit Colleges". Huffington Post.
- ^ "Company profile. DeVry, Inc" (PDF). senate.gov. Retrieved April 20, 2023.
External links
[edit]- Official website
- Business data for QuinStreet: