Paidcontent and ProBlogger reported this morning that the Bankaholic blog, which launched in July of 2007, was bought today by Bankrate for a cool $12.4 million, and the option to earn another $2.5 million over the next 12 months.
That’s an astounding payout for the amount of time that John Wu (who is the one person behind Bankaholic) has put into the site.
If you look at the Google trends chart, you can see a very convincing argument for building a blog to flip it:
Having been in the blog space for a long time, I sometimes forget that there is an actual market for blogs, but there definitely is.
Some people like Yaro Starek have occasionally suggested that you can make a business out of buying blogs, building them up a little bit, and then reselling them for a profit.
Blogging ain’t dead yet.
{ 4 comments… read them below or add one }
Benjamin 10.08.08 at 2:09 am
I just read about this at problogger, what an amazing story of success by a guy who did almost all of the work on the blog himself!
I am now open to any offers for my blog, lol!
Simon Tate 10.12.08 at 11:21 am
It is always good to hear of these stories where hard work pays off. I think most bloggers are in it for the fun, the expression of ideas and the experience if sharing of thoughts.
Evillo 11.14.08 at 6:46 pm
This is a big wow lol.. reminds me with the story of the “The rich Jerk” ebook creator. He sold a website for $300,000 because it was bringing for like $7000+/month in profit. Hope you all the same and more success in near future.
Watching the scams going down
Slim Fit 11.18.08 at 9:08 pm
What the? Wow talk about some seroius ROI.. Great success Story