Internet Brands Cuts IPO Terms

Internet Brands Inc., an El Segundo, Calif.-based operator of consumer media and ecommerce websites, has cut its IPO terms from 9.57 million Class A shares being offered at between $10 and $12 per share, to six million shares being sold at $8 per share. The reduction comes after Internet Brands failed to price last week, as expected. The company plans to trade on the Nasdaq under ticker symbol INET, with JPMorgan and Morgan Stanley serving as co-lead underwriters.

Shareholders include Idealab, Foundation Capital and Clearstone Venture Partners.