LowerMyBills.com
| Company type | Private |
|---|---|
| Industry | Consumer finance, Lead generation |
| Founded | 1999 |
| Founder | Matt Coffin |
| Headquarters | Los Angeles , United States |
Area served | United States |
| Owner | Rocket Companies |
| Parent | Rocket Companies |
| Website | lowermybills |
LowerMyBills.com operates as a consumer finance platform currently owned by Rocket Companies, the parent organization of Rocket Mortgage, which took ownership in 2017. The website serves as a conduit between consumers and mortgage lenders along with various financial service providers.
History
Established in 1999 by Matt Coffin, LowerMyBills.com was purchased by Experian in 2005 for $330 million, with additional earn-out possibilities reaching $50 million. At the time of acquisition, the business reported $26 million in operating profit on revenues of $120 million.
In May 2012, Ybrant Digital announced plans to acquire LowerMyBills, PriceGrabber, and ClassesUSA.com from Experian, with the intention of nearly doubling its revenue streams. However, this transaction was not completed by September 2012. Following this, Experian divested these assets to their management teams, who operated under the name Core Digital Media based in Los Angeles.
Rock Holdings Inc., the parent company of Rocket Mortgage, expanded its footprint in mortgage and financial service lead generation by purchasing LowerMyBills.com and ClassesUSA.com from Core Digital Media in January 2017.
Advertising
According to TNS Media Intelligence, the company invested close to $75 million in online advertising through November 2006, positioning it among the top advertisers on digital platforms. The website’s banner advertisements frequently include animated or silent video content that is unrelated to finance. Consumers responding to these marketing efforts are connected through lead forms to a network of prominent service providers, where they voluntarily provide information pertinent to transactions. Users give consent for these connections and are notified that service providers will reach out via phone or email, ensuring compliance with TCPA and applicable regulations.