Moneysupermarket.com Group PLC (LSE: MONY) is a British price comparison website-based business specialising in financial services. The website enables consumers to compare prices on a range of products, including mortgages, credit cards and loans. The company also purchased MoneySavingExpert.com for £80 million from Martin Lewis in 2012, becoming a subsidiary of Moneysupermarket.
Moneysupermarket is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
History
Moneysupermarket.com - Car Insurance (2010, UK, cinema) -
Simon Nixon founded a two businesses in the mortgage market in the late 1980s, which eventually became Moneysupermarket. This began when he established a mortgage subscription business in 1987. Nixon was a student at Nottingham University studying accounting, while also working a job selling mortgages. While working in the role, he noticed after a number of months there was no easy way for brokers to compare all the mortgage deals available. He worked evenings and weekends setting up best-buy tables so he could send out information to those who required it. He began it as a free service, before charging subscriptions at £11 a fortnight. After two years in business, Nixon was earning £10,000 a month from his subscription business, offering mortgage advice via post.
The business was established in 1993 by Simon Nixon, at the time a student at Nottingham University, and Duncan Cameron as a provider of off-line mortgage information to Independent Financial Advisors under the name Mortgage 2000. and in 1999 launched moneysupermarket.com providing on-line mortgage information. Since then the business has been developed to provide credit card and personal loan information
By 2006, the group earned pre-tax profits of £11.7 million on revenues of £105m. A year later, The Guardian announced that the website was processing 52% of all the price comparisons in the UK. In June 2007, Duncan Cameron sold his 47% stake in the business to co-founder Simon Nixon for £162 million. The Guardian noted that for household and car insurance, price comparison websites such as moneysupermarket.com rarely include all products on the market and that price comparisons are consequently incomplete.
In 2012, Moneysupermarket announced that they had purchased MoneySavingExpert.com in a deal worth £87 million. After the acquisition was completed in September of that year, MoneySavingExpert remained as an editorially independent platform, as part of the contractually binding Editorial Code. Its founder, Martin Lewis, announced that he would remain as the chief editor of the platform.
Moneysupermarket announced in 2015 that Martin Lewis would be selling 1.6% of his shares in Moneysupermarket, reducing his overall holdings in the company to 1.5%. Moneysupermarket recruited a new chief executive in October 2016 to replace Peter Plumb, who would be leaving the group in May 2017. Mark Lewis was announced as the new chief executive and had previously served as retail director at John Lewis. He was tipped to become its managing director before joining Moneysupermarket. In an interview with The Guardian he stated he wanted to return to digital retail after working with both CollectPlus and eBay previously.
Operations
Moneysupermarket
Simon Nixon founded Moneysupermarket.com, which is the main source of revenue for the Moneysupermarket group. Following the amalgamation of a number of companies dating back to 1989, Nixon formed the largest UK-based comparison website for insurance, finance, energy and a number of other markets. To date, it is the largest comparison website in the UK by revenue.
Travelsupermarket
Travelsupermarket was founded in 2000, as a travel comparison website and subsidiary of the Moneysupermarket.com group. Initially it competed with sites such as Expedia and Skyscanner. In 2005, it was named the best online travel company in the UK.
MoneySavingExpert
MoneySavingExpert.com is a subsidiary of the Moneysupermarket group, after it was acquired from Martin Lewis in 2012 for a deal in the region of £87 million. It was founded in February 2003, after Lewis believed the UK needed a resource to provide basic financial advice. The site had grown to attract 13 million monthly users by 2012, with 7 million subscribers opting in to receive weekly emails. In September 2012, he sold the website while remaining editor-in-chief.
In 2013, the group announced the launch of the Cheap Energy Club by Moneysupermarket subsidiary, MoneySavingExpert.com. Martin Lewis, founder of MoneySavingExpert, stated in a number of interviews that he believed the energy market was broken. The service monitors the users energy tariff to ensure they are on the cheapest gas and electricity deal. The scheme requires the user to input data regarding your current energy tariffs and state the amount of saving for which you would be willing to switch providers. Tariffs that are available are then reviewed every month and you are notified when switching would trigger your target saving.
Criticisms
In 2007, The Guardian noted that for household and car insurance, price comparison websites such as moneysupermarket.com rarely include all products on the market and that price comparisons are consequently incomplete.
Adverts
In 2010, adverts featured comedian Omid Djalili as the character of "HaggleHero".
Then from 2011 to 2013 showed adverts such as man surfing on an inflatable crocodile, another man in a jungle with gorillas and another man going into space. In August 2013 a new advert was launched showing a man named Bill running around Croydon with an army of cats whilst a spokesman played by James Lance saying that Bill is so Moneysupermarket.
In January 2014, a new advert was launched featuring Snoop Dogg and his song "Who Am I (What's My Name)" features on the ad.
In August 2014, another new advert was launched featuring the Epic Elephunk walks around the road of Manhattan city while Graeme is riding the Elephunk the Elephant's back, the narrator claiming he is so Money Supermarket, and the chosen soundtrack being "Word Up!" by Cameo on this ad.
In January 2015, another advertising campaign was launched featuring a man named Dave (played by Michael Van Schoik), walking down a street in L.A, dressed in a shirt, suit jacket, denim hot pants and high heels. He alongside two other people, struts confidently to the song "Don't Cha" by the Pussycat Dolls, while showing off his prominent rear to stunned onlookers, including Sharon Osbourne. It was later revealed by the Advertising Standards Authority in the UK to be the most complained about advert in 2015 with 1,513 complaints. In their ruling, the ASA found that whilst it may be distasteful to some, it did not judge the ad was offensive and the complaint was not upheld.
In July 2015, another advert was launched. It shows a chubby construction worker named Colin (played by Kyle McIntire). He dances, gryates, does a worm dance and a split in front of his co-workers and the bemused office staff at the other building. The song featured in this ad is "Just a Little" by British pop group Liberty X. At the end of the advert, he also swings on a wrecking ball (a reference to the video of Miley Cyrus' Wrecking Ball).
In January 2016, another TV campaign by agency Mother was launched featuring a bodyguard named Gary. The song featured in the ad is "Big Bad Wolf" by Duck Sauce, an American-Canadian DJ duo.
In April 2016, another advert was released. It showed all three of the 'epic' people having a dance off in a car park. The song featured in the advert is "Worth It" by Fifth Harmony featuring Kid Ink. The ad premiered during the first break of Britains Got Talent.
In March 2017, another advert featuring Skeletor dancing to the song "Time of My Life" from the film "Dirty Dancing" and also featuring He-Man was released.
In March 2018, an advert featuring Action Man dancing to the song "Finally" by CeCe Peniston was released.
See also
- Moneyguru.com
- Confused.com
- BeatThatQuote.com
- Comparethemarket.com
- Expedia
- Gocompare.com
- Kelkoo
- Money.co.uk
- Moneyfacts.co.uk
- Travelocity
- uSwitch
- FeeSharingFinance.comâ„¢
References
External links
- Corporate website
- moneysupermarket.com on Alexa
