Today, Lion Inc. (LINN.OB) announced the sale of their website mortgage101.com for $5 million dollars to Internet Brands. This purchase price actually tops Lion Inc's current market cap.
In an earlier post, I had pointed out the unique value of this website, which was unfortunately trapped inside an otherwise dismal company. Mortgage101.com is the first non-sponsored search result in both Google and Yahoo when searching for the keyword "mortgage." Check it out here and here.
This purchase was an absolute bargain. While large companies like Countrywide (CFC) are spending about $35 million in mortgage related internet advertising per month, the reigning top search result for "mortgage" was just picked up for a one time pittance of $5 million.
Friday, September 28, 2007
Subscribe to:
Post Comments (Atom)
1 comments:
linn.ob is an example of a company that should either try to sell itself or just close up the shop. the sale of the company's only significant asset gives them cash to cover operating losses for maybe another year. linn.ob management should take the high road here; liquidate the company and return the proceeds to stockholders before there is nothing left.
Post a Comment