Orange County Business Journal

AutoTrader Files for $300 Million IPO

Kari Hamanaka Monday, June 18, 2012

Atlanta-based AutoTrader Group Inc., the parent of Irvine-based Kelley Blue Book Co. Inc., has filed documents with the Securities and Exchange Commission to raise $300 million in an initial public offering.

Atlanta-based AutoTrader Group’s Kelley Blue Book and AutoTrader.com provide automotive research to car buyers and digital marketing to auto dealers.

AutoTrader Group revenue rose 39% last year to more than $1 billion, according to the SEC filing.

Its annual income also rose 39%, to $68.1 million.

AutoTrader Group, which acquired Kelley Blue Book in 2010 for an estimated $500 million, is owned by Atlanta-based cable TV company Cox Enterprises Inc.

Rhode Island-based private equity firm Providence Equity Partners LLC has a 25% stake in AutoTrader Group.