GoCompare.com is a leading UK price comparison website which acts as broker for a broad range of insurance products and financial services offered by third-party underwriters. It also now covers holidays, telecoms and energy suppliers. GoCompare was launched in 2006 by Hayley Parsons and other former employees of Admiral Group as a direct competitor to that company's Confused.com and rivals Moneysupermarket.com and Comparethemarket. All four services (and the others which have launched more recently) are in effect specialised search engines, generating fees from clickthroughs to insurance suppliers as well as from commissions. GoCompare is renowned for its catchy but deeply irritating advertising, featuring opera singer "Gio Compario", arguably Britain's least loved advertising mascot. Introduced in 2009, the character is, inexplicably, still being used ten years later. Broker Esure acquired a 50% stake in GoCompare in 2010, and bought out the remainder in March 2015 for £95m. That deal made Hayley Parsons, now OBE, one of Britain's wealthiest women. GoCompare was spun off again as an independent business a year later. Jon Morrell succeeded Parsons as chief executive, but was himself replaced by Matthew Crummack in 2016. Direct Line and Esure founder Sir Peter Wood remains chairman. The company acquired several additional savings-based sites in 2018 - MyVoucherCodes, Energylinx and weflip - but none has achieved the profile of the main GoCompare service. Revenues for 2017 were £149m. Virtually all income is generated from fees and rebates charged to partner insurers. Adbrands does not currently profile this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
Capsule checked 4th January 2019
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Adbrands Weekly Update 11th Dec 2014: Direct car insurer Esure acquired the 50% of equity it didn't already own in price comparison website GoCompare for £95m. It will continue to run the business as a standalone service. That deal confirmed GoCompare's founder and chief executive Hayley Parsons as one of the UK's wealthiest women, with a cash windfall of £44m. She will step down from day-to-day management of the business, handing over to COO John Morrell.
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