Bankaholic Bought for $15 million

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BankaholicablogonthefinancesectorhasbeenacquiredbyfinancialinformationserviceproviderBankrateforawhopping$15million。

BankaholicisaonemanblogwrittenbyJohnWuandhekeepsmostofthe$15million。

InthemidstoftheeconomicgloomtheUSisfacingrightnow,thisexitforBankaholicisfantastic。

Notonlydiditnotneedanexit,itgotagreatpayout。

HoweveritsunclearwhyBankRatepaidsomuchbutwiththeeconomydying,desperationdrivesanybodycrazy。

Theremightbesomesenseintithough。

AccordingtoPaidContent,BanRatehasmadeanumberofacquisitionslately。

BankRate,ofcourse,isexposedtosomeofthenastieraspectsoftheeconomy,thoughitsheldupfairlywellandcontinuedtogrow。

Itsalsomadeacquisitionsinordertodiversifyitsrangeoffinancialproducts-lastDecemberitacquiredSavingforcollege。

comandNationwideCardServicesforatleast$29million。

Sodiversityisoneofthereasonsfortheacquisition。

ThisstilldoesnotexplaintheheftyamounttheypaidforBankaholic。

FurtherresearchbyMashable,revealsthatthisisforleadgeneration。

HeressomedatafromTedMurphyofIzea。

Justinlastthreeyearsalone,thepricesforsomeofthebidshavegoneup200%to300%,saidChatter。

AsanexamplefromGoogle,tobeoneofthetopthreeadvertisersforhighyieldsavings,youhavetopay$13。

20foraclick。

Witha1%conversion,itcostsyou$1,300toacquireacustomer。

Thosearethenumbersbehindthissaleessentially,itsleadgeneration。

Basically,CPCleadgenerationisgettingsoexpensivesoitsbecomingfarmoreefficienttolooktosocialmediaasameansforpromotionthanCPCadvertisingforleadgeneration。

Nevertheless,wejustwanttosaytoJohnWu,youluckybastard!