Company type | Private |
---|---|
Industry | Personal Finance, Mortgage, Insurance, Solar, Credit Cards |
Founded | 1999 |
Headquarters | Playa Vista, California |
Key people | Graham Skidmore, CEO / Vince Lewis, President / Jeff Hughes, President |
Products | Home Loans, Credit Cards, Auto Insurance, Health Insurance, Solar |
Parent | Rock Holdings, Inc |
Website | lowermybills |
LowerMyBills.com is a consumer finance corporate website that connects prospective mortgage borrowers to lenders. The site connects consumers who respond to their marketing with service providers.
Rock Holdings Inc., the parent company of Quicken Loans, owns LowerMyBills.com since 2017. [1]
LowerMyBills.com was founded by Matt Coffin [2] in 1999. [3] The then-privately held company was purchased in 2005 by Experian for $330 million, with performance-based incentives that could add up to an additional $50 million over the next two years. In the year ending March 31, 2005, the company had an operating profit of $26 million on sales of $120 million. [4] [5] In December 2007, Experian launched LowerMyBills.co.uk for UK consumers.
In May 2012, Ybrant Digital announced that it had agreed to purchase PriceGrabber, LowerMyBills, and ClassesUSA.com from Experian. Steve Krenzer was to move from Experian to Ybrant to continue to lead these three businesses. Ybrant expected the purchase to nearly double its revenues. [6]
In September 2012, the purchase of PriceGrabber, LowerMyBills, and ClassesUSA.com from Experian fell through. [7] In October 2012, Experian announced that it had completed the sale of its PriceGrabber, LowerMyBills.com, and ClassesUSA.com to the management teams of those businesses. The company continued operations under the name of Core Digital Media, from Los Angeles, CA. [8] [9]
In January, 2017, Rock Holdings Inc., the parent company of Quicken Loans, acquired LowerMyBills.com and ClassesUSA.com from their parent company Core Digital Media. [10] [1]
TNS Media Intelligence reports that the company spent nearly $75 million on web advertisements in 2006 through November, making it one of the medium's largest advertisers. [11] The website's banner ads generally include animations or soundless video clips that are not related to financial matters. [11] [12] The site connects consumers who respond to their marketing with a network of leading service providers. This is done via lead "forms" where consumers voluntarily submit relevant information regarding the transaction under consideration. Consumers can approve who they will be connected with and are told that the service provider will contact them via phone and or email, in compliance with the TCPA and other relevant regulations.
AOL is an American web portal and online service provider based in New York City. It is a brand marketed by Yahoo! Inc.
A credit score is a number that provides a comparative estimate of an individual's creditworthiness based on an analysis of their credit report. It is an inexpensive and main alternative to other forms of consumer loan underwriting.
AT&T Mobility, LLC, also known as AT&T Wireless and marketed as simply AT&T, is an American telecommunications company. It is a wholly owned subsidiary of AT&T Inc. and provides wireless services in the United States. AT&T Mobility is the largest wireless carrier in the United States, with 222.8 million subscribers at the end of Q1 2023.
iiNet Limited is an Australian internet service provider and telecommunications company that sells NBN plans, 4G and 5G Home Wireless Internet and services on its ULTRA Broadband Cable, FTTB and VDSL2 networks. It also sells mobile phone sim-only plans using the Vodafone network.
Intuit Inc. is an American multinational business software company that specializes in financial software. The company is headquartered in Mountain View, California, and the CEO is Sasan Goodarzi. Intuit's products include the tax preparation application TurboTax, personal finance app Mint, the small business accounting program QuickBooks, the credit monitoring service Credit Karma, and email marketing platform Mailchimp. As of 2019, more than 95% of its revenues and earnings come from its activities within the United States.
HSBC Finance Corporation is a financial services company and a subsidiary of HSBC Holdings. It is the sixth-largest issuer of MasterCard and Visa credit cards in the United States. HSBC Finance Corporation was formed from the legal entity that had been known as Household International—shortly after Household International settled for US$486 million in charges pertaining to predatory lending, after burning through $389 million in legal fees and expenses—and is now expanding its consumer finance model via the HSBC Group to Brazil, India, Argentina and elsewhere.
Kaye Scholer was a law firm founded in 1917 by Benjamin Kaye and Jacob Scholer. The firm had more than 450 attorneys in nine offices located in the cities of Chicago, Frankfurt, London, Los Angeles, New York City (headquarters), Shanghai, Palo Alto, Washington, D.C., and West Palm Beach.
A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. A credit score is primarily based on a credit report, information typically sourced from credit bureaus.
Daniel Gilbert is an American billionaire, businessman, and philanthropist. He is the co-founder and majority owner of Rocket Mortgage, founder of Rock Ventures, and owner of the National Basketball Association's Cleveland Cavaliers. Gilbert owns several sports franchises, including the American Hockey League's Cleveland Monsters, and the NBA G League's Cleveland Charge. He operates the Rocket Mortgage FieldHouse in Cleveland, Ohio, home to the Cavaliers and Monsters. As of January 2023, Forbes estimated his net worth at US$18.3 billion.
Rocket Mortgage, LLC, formerly Quicken Loans, LLC, is an American mortgage lender, headquartered in Detroit, Michigan. In January 2018, the company became the largest overall retail lender in the U.S., it was also the largest online retail mortgage lender in 2018. In the third quarter of 2022, the title of largest overall lender was relinquished to United Wholesale Mortgage Company. Rocket Mortgage relies on wholesale funding to make its loans and uses online applications rather than a branch system. Amrock and One Reverse Mortgage are also part of the Rocket Mortgage Family of Companies. The company closed more than $400 billion of mortgage volume across all 50 states from 2013 through 2017.
RCN Corporation, originally Residential Communications Network, founded in 1993 and based in Princeton, New Jersey, was the first American facilities-based ("overbuild") provider of bundled telephone, cable television, and internet service delivered over its own fiber-optic local network as well as dialup and DSL Internet service to consumers in the Boston, Chicago, Los Angeles, New York City, the Lehigh Valley in eastern Pennsylvania, and Washington, D.C. areas.
NetBank, formerly named Atlanta Internet Bank (1996) and Net.B@nk (1998), was a direct bank.
LifeLock Inc. was an American software company active from 2005 to 2017. The company was best known for its eponymous LifeLock identity theft prevention software, now sold by Gen Digital after the latter acquired LifeLock in 2017. LifeLock's system monitors for identity theft, the use of personal information, and credit score changes.
Discover Financial Services is an American financial services company that owns and operates Discover Bank, an online bank that offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates the Discover and Pulse networks, and owns Diners Club International. Discover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders. Discover is currently headquartered in the Chicago suburb of Riverwoods, Illinois.
PriceGrabber.com is a price-comparison shopping site and distributed content commerce service founded in 1999 by former CEOs Kamran Pourzanjani and Tamim Mourad. The company partners with merchants, retailers, and sellers to provide information on a wide range of products. PriceGrabber.com was the first comparison-shopping engine to project tax and shipping cost information for a consumer during the price comparison process.
CoreLogic, Inc. is an Irvine, CA based leading information services provider of financial, property, and consumer information, analytics, and business intelligence. The company analyzes information assets and data to provide clients with analytics and customized data services. The company also develops proprietary research, and tracks current and historical trends in a number of categories, including consumer credit, capital markets, real estate, fraud, regulatory compliance, natural hazards, and disaster projections. The company reported a full 2020 revenue of $1.6 billion. As of 2021, CoreLogic is a Fortune 1000 company.
Moody's Analytics is a subsidiary of Moody's Corporation established in 2007 to focus on non-rating activities, separate from Moody's Investors Service. It provides economic research regarding risk, performance and financial modeling, as well as consulting, training and software services. Moody's Analytics is composed of divisions such as Moody's KMV, Moody's Economy.com, Moody's Wall Street Analytics, the Institute of Risk Standards and Qualifications, and Canadian Securities Institute Global Education Inc.
The Brightcom Group is a digital marketing company founded in 2000 and headquartered in Hyderabad, India with offices in US, Argentina, Brazil, Chile, Uruguay, Mexico, UK, France, Germany, Sweden, Ukraine, Serbia, Israel, China, India, and Australia, and with representatives or partners in Poland, and Italy. It ranked 400th in the Fortune India 500 list in 2020.
BillFixers is an American company that negotiates with television, internet service providers, and cell and landline companies on behalf of consumers or businesses. It was founded in July 2014 by brothers Ben and Julian Kurland with the goal of lowering household monthly bills from telecommunications service providers. BillFixers is an expert as a service (ExaaS) or justice-as-a-service company, which optimizes on work that feels menial to individual consumers. As of February 2020, BillFixers has over 25,000 clients and claims a combined savings of over $5,000,000. BillFixers was acquired by Experian in April 2022.
EducationDynamics (EDDY) is a privately held higher education management corporation. Founded in 2005, the firm provides market research, advertising agency, multichannel marketing, lead generation, and enrollment management for over 500 US colleges with a particular focus on adult online education. It also partners with private lenders who provide student loans, produces marketing research about adult online students, and hosts the InsightsEDU Conference, formerly known as (CALEM).