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DepositAccounts.com bought by LendingTree for $33 million

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http://www.prnewswire.com/news-releases/lendingtree-acquires-dep...

I figure there's a lot of crossover between readership here and there, especially for the Rewards Checking, High Yield CD's and Saving Accounts threads.

Good for Ken.

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This is great for Ken.  I'm very happy that he got to clean up nicely for all of his efforts.

Having said that, acquisitions are almost NEVER a good thing.  I expect the site to be shifting more towards being driven by profit and manipulated by advertisers.

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"The acquisition purchase has a possible total consideration of $33 million, which consists of $24 million in cash at closing, and contingent consideration payments of up to $9 million."

ETA: Just to be clear, I am very happy for Ken.  His website has been very useful to me, and I admire him for sticking with it all these years.  Having said that, I hope the site maintains its "editorial independence" & continues to serve up objective info.

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tuphat said:   ETA: Just to be clear, I am very happy for Ken.  His website has been very useful to me, and I admire him for sticking with it all these years.  Having said that, I hope the site maintains its "editorial independence" & continues to serve up objective info.
Fact that it was purchased by a financial institution does not sound very promising. How is LendingTree gonna make a return on their investment of $33M if not by pushing their own brand at the expense of other - potentially better - banking and lending offerings? Good for Ken definitely. Good for the general public, I doubt it. But in his place, I'd totally take the money too. 

Statement is pretty clear: "DepositAccounts.com's rich database of deposit products, data aggregation technology, and expert editorial content will enable us to offer consumers a more comprehensive shopping experience in all major financial product categories."

My translation: "We'll use the trust built up by depositaccounts.com to funnel visitors thinking it's still an unbiased site toward our products."

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The end of a great site. Sad. Enjoy it for another year or so. It will take LT a while to figure out exactly how they're going to eviscerate it.

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People said the same kinds of things here when Tim cashed in. It wasn't nearly as bad as feared.

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Wow, that was a bad example. Sadly, FW is a freakin ghost town at this point. The Finance Forum is the only reason that I ever visit here anymore - and, frankly, I only do that out of habit. There are other dedicated websites that have more activity. And TCB gets virtually all my CB business now.

Acquisitions are great for the top management/owners, but typically bad for the users.

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He was providing the account search for the https://kasasa.com/ site. Wonder what will happen to that now.

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