Video:

Why-Google-came-knocking-BeatThatQuote.com’s-John-Paleomylites

Business assets: Why Google came knocking

Author: John Paleomylites, James Kirk (yBC.tv)

Categories: Business Growth, Marketing Strategy, Selling your business, Top entrepreneurs
Tags: BeatThatQuote.com, brands, Google
Having the right business assets can make you a lot of money if an interested acquirer gets in touch. In this TV show BeatThatQuote.com’s John Paleomylites discusses selling to Google.

The right business assets

There wasn't anything specifically that we did with a view to selling it to Google. Google approached us. I the year to Jan '11 revenues of the company were around 14m, with a reasonable profit. Subsequently as the company would have grown probably in the subsequent year probably around 20m. So there was still a fair amount of growth in the business. I think there was probably a few reasons why it was BeatThatQuote.com. In e of them would be down to the technology choices that we made, I think it would be accurate to say that BeatThatQoute of all of the UK comparison sites was the only one that used open source technologies to deliver it's service. I think one of the other reasons is that BeatThatQoute never really developed a brand. Our route to market was through direct marketing and through white label, which is essentially putting our content into other people's brands. Whereas pretty much all of the other aggregators were branded, and given that Google really has the best brand in the industry there was no need for them to pay over the odds to acquire a branded comparison site. the most important lesson I think that any entrepreneur really needs to learn and to understand is to negotiate the best deal that they can possibly get. Keep exploring Inside Finance for more TV shows about business assets and similar subjects.
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