One to Watch 2008
Business description: In November 2006, members of the founding team at Confused.com struck out on their own. Evolving the traditional price-based comparison model, their venture Gocompare.com rates insurance policies on other features too, preventing companies from stripping down policies to come out on top. It now a compares a range of insurance products and is on course to turn over £10m this year.
Judges’ comments: Gocompare.com had barely launched when they filed their last available accounts, reporting modest revenues to March 2007 of just £122,826. But the experienced management team launched an extremely well-executed web business with a clear USP in a strongly growing sector.
The judges were convinced that this business is likely to achieve revenue in the tens of millions of pounds within two years, and were impressed with how much had been achieved with relatively small initial capital. Both the corporate brand and the website itself were clear, strong and well promoted. Expect to hear much more about this impressive business in coming years.