Founders Investment Banking, LLC is pleased to announce that FrugalTravelGuy.com has been acquired by Internet Brands, Inc., a leading Internet media company that owns and operates e-commerce and community-based websites across a variety of industry verticals.
Formerly headquartered in Hilton Head Island, South Carolina, FrugalTravelGuy.com was founded in 2007 by Rick Ingersoll, a retired mortgage banker and avid world traveler, as a means of sharing his own “travel hacking” tips and techniques to help other travelers explore the world at rock-bottom prices. By the end of 2011, the site had become one of the leading niche travel blogs on the Web, with mentions and awards from numerous media outlets, including CNN, Condé Nast Traveler, Washington Times, ABC News, MSNBC, and Examiner.com.
FrugalTravelGuy.com will join with other leading travel sites, including FlyerTalk.com, WikiTravel.org, and CruiseMates.com in Internet Brands’ popular Travel and Leisure category. “This is a wonderful opportunity to align with an online leader in leisure travel,” noted Ingersoll. “Internet Brands will enable us to upgrade our readers’ experience through a new design and new features while allowing our entire staff to remain with our readers for years to come.”
Founders Investment Banking acted as the exclusive financial advisor on the transaction. “Rick’s story is one that we’ve seen multiple times now and never grow tired of,” remarked Zane Tarence, Managing Director of Founders Investment Banking’s Internet & Digital Media practice. “A single individual with a computer and a passion for a subject can end up blessing a wide audience and building a nice business while doing so, and that is exactly what Rick was able to do with The Frugal Travel Guy. I commend him and his team on a successful transaction and look forward to seeing the site continue to thrive under Internet Brands’ ownership.”
Founders Investment Banking, LLC is an independent, middle-market capital advisory firm, headquartered in Birmingham, Alabama, that is dedicated to providing a comprehensive range of customized solutions for its clients, including merger and acquisition, merchant banking, and corporate and strategic finance advisory services. In order to provide securities-related services discussed herein, certain principals of Founders are licensed with Burch & Company, Inc., member FINRA & SiPC. Burch and Founders are unaffiliated entities. For more information on our firm, please visit www.FoundersIB.com.