Feeds

Thomson rids itself of Marketeye.com

Shut down

  • alert
  • submit to reddit

The Essential Guide to IT Transformation

Marketeye.com, the UK financial information site, has been shut down by parent company Thomson Financial.

Marketeye was acquired by Thomson through its purchase last year of Primark, another financial information group. But the web site fit into Thomson's 'core' B2B financial services portfolio, so it got the chop. That's because no-one wanted to buy it.

Some analysts are now questioning the viability of financial sites aimed at the retail sector. Certainly there is a shakeout going on.

Last week, Misys shut ScreenTrade, possibly the UK's biggest insurance quotation service online. Misys blamed lower than expected consumer take-up for the decision. It was unwilling to sustain the losses by itself and was unable to find a partner, in the current climate, to shoulder the burden. In our opinion, Screentrade's big problem was that it lacked a household name, such as the AA, that punters know and trust.

Two weeks ago, New Media Spark bought GlobalNet Financial to grab the stakes it held in other Web site companies. It is shutting down the Global's financial Web sites. And let's not forget The Street.co.uk, the quixotic enterprise which raced through millions of quids before collapsing late last year.

So what's left? There are what seems like dozens of retail share trading sites, and there's some well-regarded financial information businesses such as Hemscott.net. With so many punters burned through last year's technology sector excesses, retail share volumes down, there is not enough trade to sustain all of these businesses. Or most of them, even.

The biggest name in UK online personal finance is probably Interactive Investor International. The biggest name offline is - possibly - FT, which competes with III through FTMarketwatch.

III is by far the most successful in turning itself from a personal finance magazine into a personal finance shop. Aside from a couple of small ventures in Hong Kong and South Africa, it avoided the temptation to go abroad.

And it got to IPO early, leaving it with a useful cash to take it through to intended profitability. It's not there yet. This makes it vulnerable to takeover, rather than closure - the customer list is very valuable, and the company generates real business. But in comparison with traditional retail financial services companies, III is very puny indeed. ®

Related stories

NewMedia Spark buys GlobalNetFinancial
Misys shuts cash-burning Web sites
Will no-one rid me of Marketeye.com?
Losses triple at Net finance site
TheStreet.co.uk goes titsup.com

The Essential Guide to IT Transformation

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.