The Money.com.au backstory (as told by our founder)
People often ask how I managed to get the Money.com.au domain. It started in 2018, after I’d sold CarLoans.com.au to a private equity firm, which later took it public with Eclipx (ASX: FPR). I was ready for my next venture.
While I consider myself a finance expert, I’m a digital marketer at heart. I look for premium domain names to build businesses around, and Money.com.au felt like the perfect chance to combine my two passions. Back then, it was just an outdated directory, but I saw incredible potential in it.
After some research, I tracked down the domain’s registered holders. They were two people who bought it in 2002 intending to build a finance directory, but hadn’t quite gotten it off the ground. I knew I could take it further. It was just a matter of finding the right price.
My initial offer of $50,000 was met with scepticism. I quickly raised it to $100,000, confident it was a fair bid, but the price soon climbed to $400,000. At the time, they believed a broker could secure an even higher offer, so they backed out of the deal. Yet, I knew no one else would see its true potential, so I waited.
Six weeks later, they came back, and I paid the $400,000. Since then, Money.com.au has grown into a business that's challenging Australia’s biggest financial services companies and helping thousands of consumers make better financial decisions every day. For me, it’s proof that the right domain, combined with vision and outstanding people, can redefine an industry.
Shaun McGowan, Founder and CEO of Money.com.au
