Bankrate, Inc. has purchased Bankaholic.com for $12.4 million with up to an additional $2.5 million earn-out payment available if the blog reaches certain performance points in the next 12 months.

The seller, John Wu has been blogging about the banking industry on Bankaholic.com since July of 2006.  He started the blog at only 20 years old, he is now about to turn 23 in November.  This is one heck of a birthday present.

Here is the link to an interview with John on WebProNews.com.

From what I read in the interview John Wu will stay on with Bankrate to help with the blog.  I’m thinking he wants to make sure to get that extra incentive of $2.5 million.

With everything that is going on with the banking industry I personally think this is a great purchase by Bankrate.  Bankaholic.com has tons of banking traffic and has become a very trusted site for information and advice.

Hmmm just a hunch but I am thinking that domainers are going to see what else they can register with “aholic” at the end of it.

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