Following on from some very useful comments from our regular contributors earlier today, there are a couple of very interesting online articles about their new venture and what an eye opener they are! Rather than comment on them, you will find the full text of the articles together with their links so you can see for yourselves what they are saying.
The Beagles are saying that they turned down a cool £7 million pounds for the sake of keeping the site as it is, because the offerors could not tell them what exactly would happen to the site. Well, if you are buying a forum, you are buying their user base and the resources posted on it, not the domain name which in itself would be nearly worthless. They would hardly remove the forum and leave just a comparison site or something else in its place, not when they’ve paid that sum for a forum with 70,000 members. One look at Money Saving Expert (MSE) will show how little it has changed since it was acquired by Money Supermarket in 2012.
If the Beagles are so much into their values, then why on earth are they running a price comparison site that features claims management companies (CMCs) as well as debt management companies, some of which charge a whooping 50% of your DMP payments as fees? These were the very companies the Beagles always tried to fight! The ethos of Legal Beagles had always been to empower people to reclaim PPI and manage their debts by themselves, with the help, resources and guidance provided on the forum.
Is it any wonder they decided to have a good site clearout at the time they were contemplating offers? See The Big Cull.