Moneysupermarket.com founder finds exit
Duncan Cameron sells his 48% stake in a deal worth £162m
Duncan Cameron, the co-founder of price comparison service moneysupermarket.com, has sold his shares in the business in a deal worth £162m.
Cameron’s shares have been sold to a new company set up by his co-founder Simon Nixon.
Cameron will retain a 5% stake in the new as yet unnamed business but will no longer play any part in the company.
Moneysupermarket.com was founded in 1999, growing out of Nixon’s magazine business Mortgage 2000.
Cameron, a software whiz, left Liverpool University in the early 1990s in order to join Nixon’s project which originally sold mortgage products to industry.
The company has grown and expanded into the consumer market and now offers a price comparison service for a host of goods including mobile phones, cars and insurance.
Cameron, who until today’s deal owned 48% in the business, has played little part in the running of the company for about five years.
Growing Business magazine contacted Moneysupermarket.com but neither Cameron or Nixon were available to comment.
© Crimson Business Ltd. 2007