MSE Discussion: MoneySavingExpert.com to join the MoneySupermarket.com group

CockneyBrum

Actually, should have seen this coming with the way his company was registered

https://en.wikipedia.org/wiki/Martin_Lewis_(financial_journalist)#Financial_Status

:money:

jnm21

I think that money saving experts should learn from this - a new site is needed, with a simple step taken to avoid this happening again - every member owns one equal share - that way no one stands to make much more than a penny if it is sold.

I am torn between thinking Martin is entitled to cash in & swallowing the apparently altruistic reasons for selling/choosing the buyer, but I can't help feeling angry - why not give the site to a charity - CAB for instance - that should secure their financial future!

NeverInDebt

From bbc news

"In the 12 months to the end of last October, MoneySavingExpert generated revenues of nearly £16m from 39 million users.

Of this income, about 59% was earned from referral fees paid by MoneySupermarket."

http://www.bbc.co.uk/news/business-18295587

Horace

I was stunned when I heard the news on the radio this morning so much so I nearly crashed my car:(

The deal is not yet done as the Office of Fair Trading has to have it's say and they could well decide that there is a conflict of interest.

Martin has done what any sensible business person would do - sell to the highest bidder in return for some technical expertise and a lot of cash. He has built this site from nothing and has demonstrated that money can be made from websites.

I think that after 3 years' that Moneysavingsupermarket will turn this site from a free resource into something that has to be paid for. It may also start spamming us. If I were a business like that then it is something that I would likely do because there is a huge database to be tapped into and after all we have subscribed to receiving weekly emails.

Fifer

ScarletBea wrote: »

How?
That's the key.
I don't see it making much real money at the moment...

Apart from the almost £16M it turned over in the past year?

hippyadam

Man creates website at his own time and expense.

People use website and lo, they are happy.

Man sells website.

People who use web site now up in arms and accuse man of selling out.

Is that the basic gist of the conversation in this thread?

Congrats on the baby & the sale Martin.

NeverInDebt

Some of that is shares

"Under the terms of the deal, Mr Lewis, who started his website in 2003, will receive an initial £35m plus shares in MoneySupermarket.com worth £25m.

After three years he may receive a further £27m in cash and shares"


http://www.bbc.co.uk/news/business-18295587

GlynD wrote: »

If I was offered £87 million I would sell too and f%$£ the lot of you.

ScarletBea

NeverInDebt wrote: »

From bbc news

"In the 12 months to the end of last October, MoneySavingExpert generated revenues of nearly £16m from 39 million users.

Of this income, about 59% was earned from referral fees paid by MoneySupermarket."

http://www.bbc.co.uk/news/business-18295587

Gosh, do people really take things at face value then? And just click everywhere from here?
:think:

movilogo

Whenever a company is sold, the old owner says it was done for good and site will function as usual.

It never happens! New owner will influence how the site will run in future.

MSE will never be the same. It is just going to be another Facebook like site. Harvest on user data and send advertisement accordingly.

At least we are mostly anonymous here.

luckwudaveit

As with all takeovers things will change despite what is promised (Cadbury / Kraft for instance). A very sad day indeed as I have used the site to save me money on countless things. A new independent site is needed to continue the spirit of MSE.