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 Back then, it was just an outdated directory, but I saw incredible potential in it.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—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. Today, Money.com.au is challenging Australia’s biggest financial websites, helping consumers make better financial decisions. For me, it’s proof that the right domain — combined with vision and outstanding people — can redefine an industry.
Shaun McGowan