Bankaholic, a one person blog covering the finance sector has been acquired by financial information service provider Bankrate for $15 million.
The sale was said to have been completed prior to the latest crisis on Wall Street, and $2.5 million of the $15 million is set aside as an earnout over the next 12 months.
Darren Rowse at Problogger delivers the understatement of the year, saying in a post that "it’s a fairly decent sale for Mr Wu." Mark Rizzn Hopkins at Mashable points to numbers showing that the financial vertical is high paying ad wise, with some clicks getting low double figures.
You would presume the site was making good money by the sales price, but nothing else about the site stacks up. Traffic isn't brilliant, matched by irregular posting at best. Quantcast shows 156,000 uniques on 263,000 visits, Compete puts the unique number at 300,000. The site has an Alexa ranking of 42,168. Since September 14, there has been only 9 posts to the site, and comments vary from a few through to the highest at 20.
Without knowing all the actual details (well, the revenue mostly), it's had to definitely say that this blog was over priced, but the amount paid for it is staggering, and I'm surprised others aren't saying the same thing. This wasn't a blog network, or mega-blog with a team of writers; instead it's a one man blog running a mix of Adsense units and affiliate offers!
I want in! Anyone interested in buying The Inquisitr for $5 million, drop me a line, I may be negotiable on the price. Our revenue is heading up, and our traffic is similar to Bankaholic...coupled with the fact that advertising in finance is about to tank, where as we reach out to a more broader market :-)