Today it was announced that the price comparison website , Money Supermarket, has bought the UK’s leading independent savings advice website and forum Money Saving Expert for £87 million pounds. This deal is spit into £35 million cash and 22.1 million shares a fantastic deal for Martin Lewis, who spoke today to say that they would still be running as an independent advice site.
Money Supermarket.com is one of the biggest price comparison websites and last year had over 140 million users, so it is not surprising that the two companies have some synergy.
Martin Lewis, set up MoneySavingExpert in 2003 to give free services such as information and recommendations on credit cards, loans, shopping, deals, banking and saving, and insurance. Journalist, Martin Lewis, has built up his own profile by offering indepentent reviews and advice on his site and has a team of people who actively search out the best deals to give to UK customers. Last year Money Saving Expert had approximately 39 million unique visitors 277 million page impressions!
The money Saving expert website makes money through recommended products, like in an affiliate scheme, rather than using banners Martin Lewis and the team will source out good deals then be paid on commission for the recommendations. Last year Money saving Expert brought in £15.8million, of which £12.6million was in profits. Sources say that Moneysupermarket was the websites biggest source of income delivering 59 % of last years referral commissions.
Martin Lewis is to stay on as Editor and Chief for a minimum of 3 years and has specific targets to meet, it will be interesting to see how he will keep up the claim that he will remain non biased.
This is a very interesting move as it sees a clear partnership between the two biggest players on the internet dealing with finance and money. SEO Creative always like to keep an eye on what is going on in the industry especially with buying and selling prominent websites.
Martin Lewis has said he will donate £10m from the deal to charity, this is said to be £1m going to Citizens Advice and the remaining £9 million donated to a Charities Aid Foundation trust. This all comes on the same day that Martin Lewis announced he was expecting a little Junior Money Saving Expert with his wife.
Congratulations to Martin on both bits of news and with a little one on the way that cash pay out will come in handy.