Gocompare.com Group PLC (Newport)

Origins

When GoCompare launched in 2006 it disrupted the insurance market as the first comparison website to display policy details rather than just listing prices. Since then, it has grown to include MyVoucherCodes.co.uk. one of the UK’s biggest discount voucher websites (launched in 2006) which provides sales, discount and voucher code information to millions of consumers across the UK every month; and Energylinx is a domestic and business energy comparison and switching service that, through its market-leading supplier relationships, helps its customer find, compare and switch to the best value energy tariffs.

Success Factor

The growth experienced by the Group since it listed on the London Stock Exchange on 3 November 2016 can be largely attributed to these three factors namely disciplined performance on the core business (including targeted and disciplined approach to marketing, focus on profitable revenue channels and improving marketing efficiency to grow profit and cash); M&A and partnerships (fast integration of acquired businesses (six weeks in the case of MyVoucherCodes, acquired in January 2018), acquisition of Energylinx in June 2018; commercial partnership with Dine Club (restaurant discounts) to reward customers; leveraged MyVoucherCodes platform to sign agreement to launch and operate The Sun’s voucher service; and a fintech mindset (continued development of a strong, agile tech team; delivering continuous improvements that unlock marginal gains; driving innovation with modest CAPEX). In sum, the motivation of the Group is to: ‘Help people everywhere save time and money’.

The Future

The focus in the near to medium term will be on disciplined performance on the core business (continuing to focus on delivering profit with a highly disciplined approach to marketing); developing acquired businesses to position them for further growth and leverage capabilities across the Group; continuing to leverage the MyVoucherCodes platform to explore further partnerships like the one with The Sun; M&A and partnerships (further domestic and international investment and M&A opportunities; expansion of B2B proposition with MyVoucherCodes and Energylinx); and Fintech mindset (delivery of Savings as a Service propositions, and continued focus on innovation to drive value for customers, partners and shareholders in the medium term.