As if north Wales-based financial services comparison site Moneysupermarket wasn’t making enough of its own moolah already – now it’s set to profit from a looming recession. Founder and CEO Simon Nixon reports traffic to its new-bank-accounts pages went up 300 percent the day after Northern Rock first hit the rocks.
“It’s not the only way the company is benefiting from the credit crunch,” Telegraph.co.uk says. Nixon: “One of the things that will play into our hands this year is that people will be looking to tighten their belts, because they will have less in their pocket. You would think that should make them more price sensitive.” That’s the same confidence exhibited by homes search startups like Globrix.
Meanwhile, the first fruits of a Dragon’s Den/The Apprentice-style incubation scheme kickstarted by Nixon will be borne in the next few weeks. Three startup ideas pitched as part of the Making Millionaires programme include a “niche social networking site” and Nixon is giving over about five percent of his time to the effort.