Freequotes gets TheStreet.co.uk for a snip
Picking over the bones of dotcom carrion
British financial Web site Freequotes.co.uk has shelled out £226,000 for the database of deceased financial outfit TheStreet.co.uk.
Freequotes - which is part of themutual.net - will get the details of 110,000 people for its money - which works out at a smidge above £2 per name.
Earlier this month TheStreet.co.uk told its readers that it was to close its operations following investor pressure on its US parent company, TheStreet.com, to slash costs.
Simon Wajcenberg, joint MD of themutual.net, believes he's got a bargain.
He said: "TheStreet.co.uk's database, which cost £10 million to compile, has a membership base which closely matches the profile of Freequotes.co.uk core audience.
"It is our belief that the acquisition of TheStreet.co.uk will make Freequotes.co.uk profitable in the near future."
And Wajcenberg is happy to pick up further dotcom carrion added: "If the opportunity presented itself, themutual.net would make further acquisitions to build its membership base and consolidate its current market position." ®