Bankrate (NYSE: RATE) is a leading online publisher, aggregator, and distributor of personal finance content. RATE aggregates large scale audiences of in-market consumers by providing them with proprietary, fully researched, comprehensive, independent and objective personal finance and related editorial content across multiple vertical categories including credit cards, mortgages, deposits, senior care and other categories, such as personal and auto loans, retirement, and taxes. The Company’s vision is to help consumers Maximize Your Money™ when they borrow, save or invest.
RATE’s flagship sites Bankrate.com, CreditCards.com, and Caring.com are leading destinations in each of their respective verticals and connect their massive audiences with financial service and senior care providers and other contextually relevant advertisers. In 2015, RATE delivered more than 19 million consumer inquiries to providers. RATE’s comprehensive offering of personal finance content and product research has positioned the Company as a recognized personal finance authority with over 300,000 attributable media mentions or interviews in 2015. RATE also owns and operates a number of specialist sites, apps and social platforms, including NextAdvisor.com, The Points Guy, Interest.com, Quizzle.com and Walla.by.
Founded in 1976 as the “Bank Rate Monitor,” a newsletter for the banking industry, The “Bank Rate Monitor” aggregated interest rates for deposits and mortgages from banks across the country. The Company began moving from print to online in 1996 and strategically broadened and diversified its product, content and consumer offerings through internal development activities and acquisitions. RATE’s unique content and rate information is distributed through two main sources: through the Company’s owned and operated websites and online co-brands, and through partners. RATE now operates three business segments, Credit Cards, Banking and Senior Care that offer:
- A credit card marketplace that helps consumers and small businesses find the best credit cards for their needs;
- A market leading platform for consumers searching for competitive rates on mortgages, deposits, personal and auto loans, as well as content, calculators and tools that help consumers on a variety of personal finance topics; and/li>
- Helpful caregiving content, online support groups and a comprehensive senior care directory for the US, with more than ~100,000 consumer ratings and reviews.
RATE aggregates rate information from over 4,800 institutions on more than 300 financial products in more than 600 local markets in all 50 U.S. states, generating ~80,000 distinct rate tables and capturing on average over three million pieces of information weekly.
RATE’s distribution partners include some of the most trusted and frequently visited personal finance sites including Yahoo!, Realtor.com, Bloomberg and MarketWatch. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, and The New York Times.
The Company’s primary sources of revenue are performance-based advertising (e.g., cost per account (CPA), cost per click (CPC), lead generation, display advertising, distribution arrangements and traditional media avenues, such as syndication of editorial content and subscriptions. A significant portion of RATE’s customers are large financial institutions such as money center banks, credit card issuers, ‘internet’ banks and mortgage companies.
Key strategic initiatives include:
- Improve consumer experience and product capabilities;
- Increase paid marketing (online & offline) to grow demand beyond SEO;
- Improve linkage between consumer inquiry demand and advertiser ROI; and
- Establish ongoing personalized customer relationship with visitors
The Company has over 500 employees and is headquartered in New York City. Additional Company operations are located in Austin, Texas; Palm Beach Gardens, Florida; and San Mateo, California.