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Friday, October 03, 2008

One More Blog Sold For ~$15 Million

According to the InquisitrBankaholic, a web site owned by Blackshore Properties, Inc, has been acquired by financial information service provider Bankrate for $15 million.

Bankaholic provides rate information on savings products, such as certificates of deposit, savings accounts, and money market accounts, as well as insurance quotes and a comparison of the best credit card offers, which are currently powered by Bankrate. In addition, Bankaholic offers consumers advice and information that allows consumers to comment and rate banks and their promotions through social networking features.

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 another major blog acquisition after Ars Technica which is acquired by Cande Nast.

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