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Post by Guest on Sat Nov 08, 2014 8:15 pm

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Moneysavingexpert website sold for £87 million

Money making expert: Cash guru Martin Lewis flogs MoneySavingExpert website he set up in bedroom for £87million

Personal finance journalist Martin Lewis has sold his MoneySavingExpert website to the price comparison company MoneySupermarket in a deal which will net him up to £87m.

Lewis set up the site, which offers money saving tips and advice, reader forums and calculators, in 2003 and it now has around 5 million subscribers to its weekly email. According to Google Analytics, it attracted around 39 million unique visitors and 277m page impressions in the year ending 31 October 2011. It reported revenues of £15.7m for the same period.

The site, which employs 42 people, was now "far bigger than the man who founded it" and it was the right time to sell, Lewis said.

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