HowStuffWorks, which traces its beginnings to Research Triangle Park, has attracted the interest of a major investor.
HowStuffWorks, a web site devoted to providing information about just what the company’s name says — how things work, said Thursday that billionaire investor Carl Icahn had made a “significant investment of growth capital” in the firm.
Just how much was invested was not disclosed.
HowStuffWorks was born in RTP as the idea of North Carolina State University professor Marshall Brain before being sold to the Atlanta firm that moved it to the Peach City.
“HowStuffWorks is an attractive investment opportunity due to its valuable content, loyal user base and capable management team,” Icahn said in a statement. “I believe this investment of growth capital should enable the
company to execute on its growth plans and capitalize on the significant
opportunity in online content.”
The company said it would use the investment to add more content to its site.
“We are pleased to partner with Carl Icahn as his investment enables the company to exponentially grow the content library and audience of HowStuffWorks,” said Jeff Arnold, CEO and Chairman of HowStuffWorks. He also is head of The Convex Group, the holding company that owns HowStuffWorks. “People are seeking quality, credible information on the Internet which HowStuffWorks already provides to millions of people each month. Our plan is to expand the scope of topics covered by the site, and to greatly enhance the depth of the proprietary content by integrating new resources such as objective product reviews, consumer opinions and price comparisons to the in-depth explanations found on HowStuffWorks.com. Ultimately, the HowStuffWorks network will address all of the needs of information seekers, no matter where they are in the learning or buying cycle.”
As part of that plan, HowStuffWorks said it had acquired online rights to publications from Publications International, which publishes more than 600 titles a year. The titles cover a variety of “how to” topics.
HowStuffWorks is also becoming the online publisher of Mobile Travel Guide and Consumer Guide, which is licensed to Publications International.
How Stuff Works: www.howstuffworks.com