Product Code Database
Hibu Inc. (styled hibü), formerly Yellowbook Inc., is a provider of web development and hosting, digital listings and reputation management, search engine and social media marketing, and digital advertisements. Hibu is headquartered in Cedar Rapids, IA.
BT Group launched Yellow pages, its UK local search engine, in 1996 and acquired YellowBook USA in 1999 for $665 million. BT Buys Yellow Book USA Press Release, 26 August 1999 Later, Yellow Book USA Inc. was transferred by British Telecommunications to its yellow pages subsidiary, alongside its UK yellow pages publishing business.
The Group was renamed Yell in 2000 Yellow Pages to become Yell plc Press Release, 13 April 2000 and BT restructured in 2001 and agreed to sell the Yell directory business to private equity firms Apax Partners and Hicks, Muse, Tate & Furst (today operating in Europe as Lion Capital LLP) for £2.14 billion/$3.5 billion, making it then the largest non-corporate leveraged buyout in European history.
In May 2005, Yell announced the acquisition of TransWestern Publishing, US directory publisher. The company announced the purchase of the publisher and its holding company, TransWestern Holdings L.P., from a consortium of private equity firms (Thomas H. Lee Partners and CIVC Partners) for $1.575 billion (£829 million). The deal went through later in the year.
With the 2003 merger of McLeodUSA business and TransWestern's presence in 25 states, Yellowbook USA, Yell's subsidiary, became the fifth largest directory publisher in the United States. Yell Group to buy US phone book rival NBC News, 17 May 2005 TransWestern had been acquired by CIVC Partners in 1993 and was used as a vehicle for additional acquisitions of smaller directories publishers in the western US. In 1997, TransWestern completed a leveraged recapitalization in which Thomas H. Lee Partners and Providence Equity Partners acquired a 60% interest in the company, with CIVC retaining a minority interest. TransWestern Publishing Company, L.P. Announces $300 Million Recapitalization with Thomas H. Lee Company. 8 September 1997 In 2001, TransWestern acquired Texas-based WorldPages.com, Inc., a leading print and Internet yellow pages publisher listed on the New York Stock Exchange for $215 million. At the time, TransWestern was the second largest independent publisher of directories. TransWestern Publishing to Acquire WorldPages.com; Creates Second-Largest Independent Telephone Directory Company with Strong Presence in Both Print and Online Markets. Business Wire, 27 April 2001
In April 2006, Yell agreed to purchase a 59.9% stake in Spanish phone directory firm Telefónica Publicidad e Informacion (TPI) from Telefónica, and launched a bid for the remaining shares which valued TPI at a total of 2.3 billion (€3.3 billion; US$4.1bn). Since then, Yell has bought further capital and in September 2007 reached agreement with the minority shareholders to acquire the remaining 1.28% of what was then named Yell Publicidad (now named Hibu Connect S.A.U., operating under the name Páginas Amarillas España). Yell snaps up Spanish rival TPI BBC News, 28 April 2006 In July 2006, Yell threatened Yellowikis with legal action, claiming that people will confuse the two organisations. In 2008, Yell Group purchased the Pindar Set business and renamed it Yell Adworks. Pindar sell directory division to Yell Print Week, 8 July 2008
In May 2009, Yell UK announced an alliance with Google to provide search marketing services to small businesses, Yell.com stops competing with Google, sell its adwords instead guardian.co.uk, 14 May 2009 followed by Yell Publicidad in January 2010. Yell Publicidad-Páginas Amarillas signs a strategic agreement to become an authorised reseller of Google's advertising offer in Spain Press Release 25 January 2010 In June 2009, Yell Group announced the appointment of Bob Wigley as Chairman, following the announcement in May 2009, that existing chairman Bob Scott would step down. Appointment of Chairman Press Release 8 June 2009 In September 2009, Yell's US arm, Yellowbook, acquired Texas and Louisiana assets of ypOne Publishing, the 10th largest independent yellow pages publisher in the US. Yellowbook acquires Texas and Louisiana assets of ypOne Publishing Press Release 2 September 2009 Yell announced the completion of its refinancing in November 2009, Completion of comprehensive refinancing Press Release 30 November 2009 as first announced in June 2009 Yell shares fall on new debt plan BBC News 30 June 2009 and updated in September the same year. Yell to raise £500m to repay debt BBC News 23 September 2009
In February 2010, Yell UK announced the first major redesign in forty years of the traditional Yellow pages directories into a smaller compact size rather than the traditional A4 format. Yellow Pages directories to be published in handy compact size Press Release 10 February 2010
In May 2010, Yell Group purchased TrustedPlaces, Yell buying TrustedPlaces to inject user reviews in to Yellow Pages Guardian.co.uk 20 May 2010 a user-contributed local review site, and its US arm Yellowbook, announced the launch of a new group buying website called Weforia.com in August 2010. Yellowbook launches Weforia.com Group Buying destination Press Release 25 August 2010
In 2011, Yellow Book USA changed its name to Yellowbook Inc.
In July 2011, Yell announced the acquisition of Znode, the privately owned multi-store ecommerce company Yell acquires Znode Press Release 11 July 2011 and strategic alliances on digital services for small businesses with both Microsoft Microsoft and Yell announce plans for a broad strategic alliance to offer SMBs innovative digital solutions Press Release 12 July 2011 and Bazaarvoice. Yell and Bazaarvoice Announce Strategic Partnership to Bring Enterprise Social Management to Small and Medium Businesses Across the Globe Press Release 13 July 2011 On 14 July, Yell announced a four-year plan to move away from traditional print and online advertising and focus on providing a broader range of digital services for both small businesses and consumers. Yell announces new strategy Press Release 14 July 2011
In September 2011, Yell announced an alliance with mobile platform company Netbiscuits. Yell announces new alliance with Netbiscuits Press Release 15 September 2011
In 2011 the company reported spending £160 million on interest payments and incurring losses of £1.4 billion.
In May 2012, Yell announced that it was changing its name to Hibu, pronounced "high-boo". The company's shareholders approved the change of name at its annual general meeting held on 27 July 2012, and the new name became effective from 30 July 2012.
The company continued to acquire additional companies, with Moonfruit, a DIY website company, purchased in May 2012 for £18m.
In September 2012, it warned that it is working with a number of capital options that which may attribute little or no value to the group's ordinary shares, it also warned profits would miss forecasts owing to the ongoing decline of its directory business.
In January 2013, Yellowbook Inc. changed its name to Hibu Inc.
As part of a strategic review of the business, in Spring 2014 Hibu decided to discontinue its US magazine business, having taken similar actions in the UK, Spain, and Latin America.
On 3 March 2014, Hibu announced that the financial restructuring of the group is now effective following consent from lenders, clearance from the UK Pensions Regulator and court sanction. All of Hibu's operations were transferred to a new group holding company, held privately by lenders.
On 18 August 2014, Hibu UK changed their customer-facing brand back to Yell. They re-launched with an updated range of products including websites, Pay-per-click. As of June 2015, Yell has created over 54,000 websites and managed 20,000 PPC campaigns for customers in the UK.
In 2021, private equity investment firm H.I.G. Capital acquired Hibu Inc. from Hibu Group Limited (now Yell Group Limited). Following that transaction, Hibu Group Limited changed its name back to Yell Group Limited.
In August 2024, Hibu Inc. acquired RevLocal, a Columbus, Ohio–based firm specializing in digital marketing strategies for local, small- and medium-sized businesses as well as for multi-location regional and national brands. The deal represents a notable extension in Hibu’s targeted reach within the broader small business marketplace.
|
|
