Bankrate Inc (NYSE:RATE) Acquires Caring Inc


Dallas, Texas 05/12/2014 (FINANCIALSTRENDS) –Bankrate, Inc. (NYSE:RATE) announced that it had Caring Inc, the owner of online senior-care for $54M in cash, subject to the adjustments. The Caring’s team will be join in Bankrate, Inc. and will continue to operate the company. Carings, co-founder and CEO, Andy Cohen said that they have been approached over many years by different companies which are interested in making their entry into the senior -living market. Bankrate was one of them and had approached them last fall during the round of fundraising & had  asked if they would consider this sale, he said.

 The Good Fit

 Just Like any other venture-backed company, that had not been the company’s plan. Their plan was to continue growing the company however, they eventually made an offer stated Cohen. At $54M, could not refuse the offer and Cohen said that it felt liked it would be a good fit for the company. He said that they really like the approach that RATE took and to all the different categories that they play in, as they also have many sites that provide the consumers with very objective information.

 An informed decision

 It is very similar to what they do in the senior housing space and they provide consumers with very objective information in order to help them with making an informed decision. The sites under the BANK umbrella cover credit cards as well as insurance, and allow consumers to get the very best quotes to determine the next step. But beyond the operational similarities, appreciated Bankrate Inc (NYSE:RATE) for its strength. Its extensive consumer-footprint, and editorial leadership, distribution partnerships as well as financial resources will now allow Caring to reach millions of more family caregivers, which will also provide increased numbers in terms of  referrals to their partners, said Cohen.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.