QuinStreet Announces Acquisition of VEMM LLC in Brazil
April 16 2015 - 9:00AM
QuinStreet Inc. (Nasdaq:QNST), the leader in vertical marketing and
media online, today announced the acquisition of Vemm LLC, its
first financial services acquisition in Brazil. QuinStreet has
already been operating in the country and has established a
leadership position in the Education market. The Vemm acquisition
expands that leadership into the Financial Services vertical, where
Vemm is already positioned as a provider of high-quality leads and
clicks.
Vemm LLC is a Brazil-based online lead generation company
created in 2012 by Simon Birrell and Eli Zelkha. Drawing on
experience in the US and European markets, Vemm has built a
proprietary technology to source and evaluate leads and traffic,
and has grown rapidly to serve some of the key players in auto,
life and health insurance, as well as other personal finance
markets in Brazil.
QuinStreet has been a pioneer of performance marketing in the US
since 1999 and entered the Brazilian market in 2012. "We have
applied QuinStreet's leading technology products and added call
center services, adapting to the Brazilian market. Those
capabilities, coupled with world class expertise and analytical
support are helping Marketing executives increase and get the most
out of their online marketing spend," said Pedro Yue, Vice
President and General Manager for QuinStreet Brazil. QuinStreet
currently serves the largest companies in Higher Education in
Brazil.
"Brazil is a big and important market, and we are excited about
the exponential growth we are already seeing in Education,"
remarked Doug Valenti, QuinStreet CEO. "The Vemm platform and team
are excellent additions to our portfolio there, and they will allow
us to provide the same excellence of service in personal finance
markets," said Pedro Yue.
Simon Birrell, founder and CEO of Vemm, commented that
"QuinStreet has great properties, experience and technology in an
area that is complementary to us. The sale of Vemm allows us to
contribute our own websites, proprietary platforms and machine
learning technology to what will now be a Brazilian lead generation
powerhouse," he said. "QuinStreet's interest in Vemm is a
vindication of our hard work in developing the Brazilian lead
market," added Eli Zelkha, Vemm co-founder. About
QuinStreet
QuinStreet, Inc. (Nasdaq:QNST) is one of the largest Internet
marketing and media companies in the world. QuinStreet is committed
to providing consumers and businesses with the information they
need to research, find and select the products, services and brands
that meet their needs. QuinStreet is a leader in visitor-friendly
marketing practices. For more information, please visit
QuinStreet.com.
Legal Notice Regarding Forward Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934
that involve risks and uncertainties. Words such as "estimate",
"will", "believe", "intend", "potential", and similar expressions
are intended to identify forward-looking statements. These
forward-looking statements include the statements in quotations in
this press release, as well as any statements regarding
QuinStreet's anticipated growth and strategic and operational
plans. QuinStreet's actual results may differ materially from those
anticipated in these forward-looking statements. Factors that may
contribute to such differences include, but are not limited to:
QuinStreet's ability to integrate the Vemm acquisition and manage
its operations; the impact of changes in industry standards and
government regulation; QuinStreet's ability to maintain and
increase the number of visitors to its websites and to convert
those visitors and those to its third-party publishers' websites
into client prospects in a cost-effective manner; the impact of the
current economic climate on QuinStreet's business; QuinStreet's
ability to access and monetize Internet users on mobile devices;
QuinStreet's ability to attract and retain qualified executives and
employees; QuinStreet's ability to compete effectively against
others in the online marketing and media industry both for client
budget and access to third-party media; and the impact and costs of
any alleged failure by QuinStreet to comply with government
regulations and industry standards. More information about
potential factors that could affect QuinStreet's business and
financial results is contained in QuinStreet's annual reports on
Form 10-K and quarterly reports on Form 10-Q as filed with the
Securities and Exchange Commission. QuinStreet does not intend and
undertakes no duty to release publicly any updates or revisions to
any forward-looking statements contained herein.
CONTACT: Media Contact
Daniel Possa
Telephone: +55 11 3060-6451
E-mail: daniel@vemm.com.br
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