QuinStreet, Inc. reports company developments tied to its performance marketplaces and technologies for the financial services and home services industries. The company’s updates center on digital media and online marketplace solutions that connect consumer search activity with brands and clients through measurable inquiries such as clicks, leads, calls, applications, and customers.
Recurring news themes include quarterly operating results, auto insurance marketplace demand, Home Services growth, AI optimization across media and performance marketing, and integration activity following the completed HomeBuddy acquisition into Modernize Home Services. Company announcements also cover capital actions such as credit facilities, investor conference participation, and management commentary on marketplace activity and margin performance.
QuinStreet, Inc. (Nasdaq: QNST) has acquired Modernize, a leader in home improvement performance marketing, for $67.5 million. This strategic acquisition will position Modernize as QuinStreet's flagship brand in home services, targeting a market worth over $200 billion. Modernize Home Services will operate across high-value segments, connecting homeowners with a network of over 1,000 contractors. The acquisition is projected to contribute $50-60 million to QuinStreet's FY2021 revenue, enhancing EBITDA margins. Details will be provided in the upcoming Q4 earnings call.
Insurance.com, a QuinStreet website, reveals findings from a survey of 1,000 drivers about distracted driving behaviors. Key insights show that 24% of drivers are distracted by texting, 20% by navigation systems, and 16% by children in the car. Distracted driving significantly impacts insurance costs, with average increases of 22% for distracted driving tickets, 23% for texting tickets, and 32% for at-fault accidents. The report emphasizes the growing concern of distracted driving, highlighted by 87% of respondents believing it has worsened over the past two years.