Free Money Finance Sold for Almost Seven Figures! Changes Coming

Well, it's been a long, difficult road full of ups and downs in many ways (financially, emotionally, etc.) but it's finally done. A couple weeks ago the final papers were signed and since then the funds have been delivered and are in my bank account. So I can now say that it's official -- Free Money Finance has been sold!!!!!

I can't give specific details on the transaction (part of the agreement), but I can say that the site was sold for almost seven figures (ca-ching) due to (in large part) the fact that I had a very excellent broker representing me. I also can't tell you who bought the site, though that will be apparent in weeks to come.

As far as changes go, there will be a transition phase where I still keep the site going on its own, but after three months the site will be in total control of the new owners. They haven't told me exactly what they plan to do, but based on conversations and reading between the lines I think these are likely:

• The site will focus more on credit cards and how you can use them in all sorts of creative ways. The new thinking will show readers how racking up a bit of debt through using 7 to 10 credit cards can actually be financially rewarding.

• The new main sponsor will switch from being Moose Tracks ice cream to a payday loan company (TBA.) Of course, you won't need to click on the ad/link, but it will still be focused prominently on the homepage.

• The site will likely be written by a younger, just out-of-school, $35k-per-year sort of person who probably won't know much about personal finances. Instead of having someone who has gone through 20 years of money management and telling what he's done and why, you'll now have a 20-year-old telling you what he thinks may (or may not) work. Still, this arrangement will make the site much more profitable for the new owners.

• They will be starting a new "Washington and Your Money" category to make things "a bit more political" (apparently political controversy drives traffic.) Their ghost writer (dubbed "Ronnie Reagan") will post at least once day and comment on how he could do things much better than "that worthless Obama dude". Should be fun, huh?

• There will be a few financial infomercial videos placed on the site. Not sure where these will be, but I do know they'll focus on "free stuff you can get from the government" and "make money with MLM" sort of pieces.

There will be a few other things to be announced over the next few months, but these are the highlights.

I'll still be around for some time, but let me take a minute to thank all my readers. It's you who have made this site the success it is. It's you who have added comments, guest posts, and the like to make the site better and more valuable. It's you who have helped me grow this site to the point where I could cash it all in for a big payout and leave you all hanging. I thank you, but more importantly, my bank account thanks you.

And one final announcement (for those of you who haven't noticed or haven't pieced it together yet) -- it's April Fool's day!! ;-)

Comments

[jbhk]

I didn't buy it when I was reading your post because:

1. the site would be written by a 20-year-old guy and ghost writers. What?
2. I don't think it was okay for you to say all these stuff even though you have got all your money in bank.
3. How about those charities that you have been supporting?
4. How about all your loyal readers?

Just the last two reasons, I don't believe you would have sold the site.

But if you did, I still couldn't believe it!!

[Stephen]

happy April Fools everyone!

[Nicki at Domestic Cents]

I'm so naive. I was starting to get mad at you :) Good one.

[Rob]

wow, I can't believe I fell for that...thankfully for only a minute though.

[Bill]

Ouch...you actually had me going for a second...

[Wise Money Matters]

I sort of fell for it initially as well. I first thought "aww crap!" and then as I kept reading I couldn't believe that you were actually saying all of these things.

Happy April Fools.

[David Nofsinger]

When I read the title, I gasped for a second.....just a second.

Then I slapped my forehead and laughed.

Happy April Fools day to you to, FMF

[Paul]

Nice one. I was totally taken in. And thanks for raising my blood pressure so early in the morning. :-)

[Eric]

OMG lol.

You had me going until the bullet list. I was thinking..."sigh, time to unsubscribe from this blog" but then you said some really ridiculous things. :p

Anyhow, happy April Fool's. This was actually the first and only prank on me the entire day. haha.

[Mark B.]

Good one, you had me for a few seconds.

[BobV]

LOL, OK, you got me too. Well, at least until I got to the credit card part. I knew something was up.

[SmartSecurityPeople.com]

Great April Fool's Days Posting! I was checking out my regular blogs to see if anyone would take advantage of April Fool's day and believe it or not, you are the only one that has delivered... of course... with the exception of my blog...

Kudos!

[Rita Bradley]

That was a good one! I almost yanked you out of my google reader until I realized it was a joke.

[Sarah]

Hehe, very funny. Just like the others above, I almost unsubscribed you from my reader. Thanks for the scare!!!:)

[Mike S]

GOOD ONE! You had me me a few seconds.

[Yipeng]

Since it was convincing... I believe it could come true.

[Shaun]

...my heart stopped. Seriously. I was kind of freaked out. Ahahahahahahaha. I thought "almost 7 figures" was pretty low. :P

[Link McGinnis]

Hook, line and sinker! Nice start to the day. Thanks!

[Dotty]

It's been a long, long time since I've fallen for an April Fool's Day joke! That was good (mean, but good!).

[Miss M]

Ha ha, that was awesome. You had me going for a minute.

[Rod Ferguson]

You had me going till you said it was sold for 7 figures :)

[Syerty]

That was just mean! (I can't believe how gullible I am)

[Pinyo]

I fell for it and couldn't believe you'd sell FMF to a payday loan company. :-)

[Santos]

I fell for it hook, line, and sinker just like a bunch of the liars above who are not admitting it ;-)

That was some fine piece of writting!

[Rhea]

Oh, my god, I totally believed you. Except when I got to the Moose Tracks part. aarrggghhhh

[Craig]

My first thought was "who the heck in their right mind would buy this site for almost seven figures?" And then I was sad for a bit because I thought about what kind of people might have that kind of money laying around to spend on a website when so many people are out there struggling.

Then I realized what day it was. I need more coffee and to pull my head out.

[Rick]

Wow, all you guys really are gullible. I didn't believe one word. But then again, I'm come to never believe anything I read on the Internet on the 1st of April. The risk is just too great.

[LyndaS]

I fell for it hook, line and sinker. I'm a slower than normal on this April Fool's Day without my cup of coffee from home...of course. Good one FMF!

[Slinky]

Hey, that was a close one! I almost straight up unsubscribed you after getting to the first bullet point. I generally consider April Fool's to be a really stupid holiday and ignore it, so it took me a bit to realize. Luckily, I decided it was totally worth leaving a comment about selling out and managed to remember it was April Fool's somewhere around the third bullet point. :)

[Rebecca]

You're a loser!

[Rockbell]

As with the rest of your work good job-- you got me good

Thanks

[My Life ROI]

I wonder how many people saw the first few lines and unsubscribed. Uh oh.

[Jim]

I hope the new owners have a running topics on how cost effective owning pets is and how moving to high cost urban centers is most financially beneficial in the long run. :)

[Susan]

:) I enjoyed it, totally believed it but then I thought, Yea! He has some money. I was happy for you.

[Mom]

I can't believe I totally fell for that. It seemed just unbelievable enough to be true...oh heck I'm just making excuses for myself. Good one.

[Larisa Troche]

Well, excellent foolery! I was just thinking, gee, I just found you!

[Kyle Fraser]

i can't believe I read that who article

[Walden]

you TOTALLY got me! I so gullible! I was thinking, "how is this possible?"
Happy April Fools!

[Miramaxa]

You had me going to the end...I was just starting to wonder where next I'd turn....this is one of my staples.

[ChristianPF]

Nice - very well done - I got a good laugh out of it... ;)

[snow_drops]

Wow... can't believe I fell for that... ^_^

[Kat]

Got me too - I forgot it was April 1st. I stopped reading after the first bullet point and was all set to unsubscribe when I scrolled down the page for one, sad last look - then I saw I'd been had.

[Barney Frank]

We are glad to hear that you sold your site, but as a rich person, you need to pay us your fair share in taxes. We will be sending you a bill for 90% of the selling price.

[Gia]

You got me!

[Matt]

I was about to congratulate you when it dawned on me what day it is...good one.

[Mike Hunt]

FMF,

Smelled that one a mile away! However you could easily get 7 figures for your blog as long as you accept the following currencies:

-Zimbabwe dollars
-Indonesian Rupiah
-Vietnamese Dong

Nice post!

-Mike

[Sillygurl]

totally got me. all the way to the very last sentence!! same as others, was totally going to unsubscribe... LOL.
It was sort of disappointing!!
great prank! it worked!

[rocketc]

For a second, I thought that I had bought your site.

And I couldn't figure out how I could possibly come up with the seven figure purchase price on my $35K salary with a liberal democrat in the White House.

[Terry]

The payday loan bit tipped me off - that is SO contrary to what FMF believes in and stands for.

[Ellen]

I was so disappointed that noone really puts on good gags for April 1st anymore...until I read your post! Thanks for the great laugh- especially enjoyed the using credit cards in creative ways section!