logo-loader
viewBankrate

Bankrate shares surge as its taken over by online marketing specialist Red Ventures for US$1.4bn

Bankrate specialises in online mortgage, savings and loans calculators

picture of calculator
Much easier online

Personal finance website Bankrate (NYSE:RATE) is to be bought by marketing analytics group Red Ventures for US$1.4bn cash or US$14 per share, sending shares surging.

Bankrate specialises in online mortgage, savings and loans calculators and chief executive Ric Elias said he was happy to be joining a company such as Red Ventures with its impressive and powerful platform of consumer-facing financial services content and brand.

As well as calculators, Bankrate also supplies editorial content on personal finance to large portals such as Yahoo.

Revenues in the first quarter of 2017 were US$118.7mln with a net loss of US$5.2mln.

Red Ventures is an an online marketing company that specialises in linking consumers and brands through analytics.

Bankrate shares gained in New York almost 9%  to $14 each. 

Quick facts: Bankrate

Price: - -

NYSE:RATE
Market: NYSE
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Phunware beats out major company to become app of choice for...

Phunware (NASDAQ: PHUN) CEO Alan Knitowski joined Steve Darling from Proactive Vancouver with news the company has beat out giant Salesforce to become of the app of choice for the re-election campaign of Donald J Trump and Mike Pence. Knitowski talks about winning that contract and what their...

8 hours, 45 minutes ago

2 min read