and Bazaarvoice. 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. In September 2011, Yell announced an alliance with mobile platform company Netbiscuits. 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. 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 and display advertising. 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). Operations The company operates in the digital marketing space within the US, providing digital marketing and advertising solutions to small- and medium-sized businesses. Hibu is headquartered in Cedar Rapids, Iowa with another operations hub in King of Prussia, Pennsylvania. References External links Official Corporate Website Apax Partners companies Companies based in Cedar Rapids, Iowa Telecommunications companies established in 2001 Companies formerly listed on the London Stock Exchange Companies that have entered administration in the United Kingdom Private equity portfolio companies Telephone directory publishing companies Yellow pages 2021 mergers