LowerMyBills

LowerMyBills.com operates as an online marketing service provider in the consumer finance sector, connecting consumers with service providers across various markets. The company was established in 1999 by internet entrepreneur Matt Coffin, a Babson College graduate who identified a market need for a centralized platform where consumers could find cheaper rates for commodity services.

The business functions primarily as a lead-generation tool. Its model is based on attracting consumers who are looking to reduce their monthly expenses and then connecting them with a network of service providers. Revenue is generated by charging these service providers for each lead passed on to them. The service is free for consumers, who voluntarily submit information through online forms to receive offers on products like mortgages, insurance, and loans. Initially, the company's marketing was entirely online, using banner ads and email marketing to target consumers actively seeking financial value.

The company's history is marked by several significant ownership changes. In 2005, at the height of the online mortgage boom, information services giant Experian acquired LowerMyBills.com for $330 million, with potential performance-based add-ons. At the time of the sale in March 2005, the company reported an operating profit of $26 million on sales of $120 million. Following the acquisition, Coffin served as the president of Experian Online Customer Acquisition Services. In 2012, Experian sold the business, along with others, to the existing management team, who continued operations under the name Core Digital Media. The company changed hands again in 2017 when it was acquired by Rock Holdings, Inc., the parent company of Quicken Loans (now Rocket Companies), signaling a strategic entry into the lead acquisition space for the mortgage giant.

Under its current ownership, LowerMyBills.com focuses on the mortgage market, providing tools, calculators, and resources for consumers looking to buy or refinance a home. It serves as a comparison platform, matching users with potential mortgage lenders from its network, including its affiliate Rocket Mortgage. The platform offers comparisons for various loan types, including conventional, FHA, and VA loans, as well as other financial products like auto insurance and personal loans.

Keywords: mortgage comparison, lead generation, consumer finance, refinancing, home loans, insurance rates, personal loans, Matt Coffin, Experian, Rock Holdings, Rocket Companies, Core Digital Media, online marketing, financial services, loan comparison, debt consolidation, interest rates, mortgage lenders, cost reduction, financial tools