Financial info site BankRate is expanding its financial product listings, as it’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.
The story goes to say that Bankaholic has a staff of one and Johns (both Problogger and PaidContent got his name wrong. It’s Johns, not John) will stay on to keep the blog running. Johns and Bankaholic are advertisers on John Chow dot Com. I’ve sent an email to Johns to confirm the story. I’m waiting for his reply. If it’s true, then I think I’m going to raise his ad rate! 😈
Joking aside, if Bankaholic did sell for $15 million, then I’m offering Johns my huge congratulation. Drinks are on him at the next meetup!
*Update – Just got an email back from Johns. He has confirmed the sale of Bankaholic for $15 million. Huge congrats man!