Website Sold:

http://www.Bankaholic.com

Who Bought it?
BankRate.com

How Much?
About 15 Million

Information On The Deal:
Bankaholic.com, an online financial portal that provides consumers with interest rates, credit card offers, and personal finance tips has been recently acquired by Bankrate.com. Bankrate is one of the fastest growing financial informational sites on the internet and plans to expand its financial product listings by using Bankaholic.com. According to a PRNewswire press release, “Bankrate paid $12.4 million for Bankaholic, with up to an additional $2.5 million earn-out payment available for the attainment of certain performance metrics in the next 12 months.” This is definitely a huge pay day for John Wu, founder and sole employee of Bankaholic, who will stay on with the company to assist with the transaction of the sale.

This large website sale is evidence that the sole entrepreneur can still compete in the growing world of virtual real-estate. What do you think of this sale?