Financial info site BankRate is expanding its financial product listings, as itâ€™s acquiring Bankaholic, which provides info on deposits, savings accounts, and money market accounts. The company will pay $12.4 million up front, with another $2.5 million possible earnout over the next 12 months.
Bankaholicâ€™s sole employee John Wu will assist in the transition and remain for an unspecified period of time. BankRate, of course, is exposed to some of the nastier aspects of the economy, though itâ€™s held up fairly well and continued to grow.
Google Trends reports around 8,000 visitors per day to Bankaholic. What do you think? Is it a bargain at $15 million?
With a team of professional financial journalists working on the blog for 12 months it could be worth twice as much this time next year.
Blogs have huge value, we all just need to wait until the world realises just how valuable they are and then there will be a lot of rich ex-bloggers around.