QuinStreet announces purchase price of $35.6 million for Insurance.com in earnings call
A couple of weeks ago, Andrew Allemann reported that QuinStreet was the buyer of Insurance.com, although the price was not revealed at the time of the news release. In today’s Second Quarter earnings call with analysts and investors, the company reported that it paid $35,600,000 for Insurance.com. Although this includes the content, I believe the domain name was the primary asset that was acquired, and the content is good for search engine rankings.
A replay of today’s conference call will be available at 8pm EST until August 16, 2010. You can access the recording by calling (800) 406-7325 in the US and Canada, or by calling 1-303-590-3030 elsewhere in the world. Use passcode 4328774 to access the call. In October of 2009, QuinStreet paid $16 million for Insure.com.
When I worked in one of the direct marketing groups at AIG, our group had millions of dollars to invest, and I recommended that we look into Insurance.com. My thought was we could offer the insurance products we had access to (accident and health insurance products) while “selling” the other leads to other divisions for products we didn’t have (such as auto insurance).
Ultimately, an investment was made in other infrastructure and the Insurance.com acquisition was never really explored. My group was small-ish for AIG (9 figures in annual revenue), and it hadn’t really used the Internet for sales when I was there, so it would have been a considerable risk.