Uswitch
This article contains content that is written like an advertisement. (June 2018) |
Parent Red Ventures | | |
Website | https://www.uswitch.com |
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Uswitch Limited is a
History
This section needs additional citations for verification. (June 2018) |
uSwitch.com was founded by Lord Milford Haven in September 2000 with an initial £4 million investment to take advantage of the UK's deregulated gas and electricity markets.[citation needed] He partnered with Andrew Salmon,[1][2] George Milford Haven[3] and Vipul Amin.[4] The company subsequently expanded into the telephony and communications markets in 2001. In the same year, it also bought competitor buy.co.uk followed by local community information website UpMyStreet.com in 2003.[citation needed]
uSwitch.com was itself acquired by
In February 2008, E.W. Scripps Company recorded a $411 million pre-tax charge related to the uSwitch acquisition, contributing to an overall $256 million loss for Scripps in the last quarter of 2007. The scale of the write-down reflects more realistic revenue expectations due to lower-than-expected levels of switching.
In December 2009, uSwitch was acquired by forwarding Internet Group for $10.3 million in cash.[6] Forward is a privately funded collection of internet-based businesses focused on consumer engagement and innovation. Forward3D is the group's 3D search agency (formerly known as TrafficBroker) and Forward Innovations is the consumer division that focuses on price comparison and switching, including brands such as InvisibleHand and Omio.
In June 2011, uSwitch acquired Top10.com. 2011 also saw uSwitch enter the Irish market with uSwitch.ie, which operates in the same way as the UK but currently offers switching services for broadband, TV, phone, and energy services and not insurance or financial services.
In August 2013, LDC backed an
On 30 April 2015, the property website firm
In 2018, Red Ventures and the investment firm Silverlake purchased Uswitch from the property giant Zoopla to create RVU, a family of brands of which Uswitch is now a part.
Business model
uSwitch.com is a free, online comparison and switching service, that helps consumers compare prices on energy, finance, insurance, and other services. There are no direct costs to consumers for the service, the company instead receives a commission from some suppliers when a customer chooses to switch to them. uSwitch provides several mechanisms designed to increase suppliers' visibility for a fee.
uSwitch.com was the first comparison website to achieve the Plain English Campaign’s Internet Crystal Mark [8] It also hosts guides advising the public on how to save money and releases research covering technology, the energy market, and financial developments.
uSwitch.com also has a London-based call centre and a Freepost ‘Send us your bill’ service, where customers can post their latest energy bills to receive comparison advice.
In January 2018, the company launched a campaign featuring Channel 4 presenter Rachel Riley in Winkleigh, Devon.[9]
Accreditation
uSwitch is accredited under the
The September 2007 minutes of the Consumer Focus Management Board Meeting, and press reports, show that the company was asked by Consumer Focus to change how it displays comparison results and information so that consumers receive unbiased results.[11] The company complied with these requests and has remained accredited.
In Ofgem's (Office of Gas and Electricity Markets) September 2013 audit of the uSwitch.com website, it scored 100% for each of the nine code of practice requirements of the Confidence Code.[citation needed]
Partners and affiliates
Major partners include
See also
References
- ^ "pro director | Andrew Salmon takes uSwitch model to Turkey". www.prodirector.net. Retrieved 2018-05-16.
- ^ "Andrew Salmon and uSwitch, who is the man behind Encazip?". Piweek - Tecnología y empresas. Retrieved 2018-05-16.
- ^ "El Marqués de Milford Haven exporta la fórmula de uSwitch". Tus noticias de la semana (in European Spanish). 2017-12-15. Retrieved 2018-05-16.
- ^ "Selling uSwitch: The Story of Vip Amin – VWB Blog". www.vwbblog.com. Retrieved 2018-05-16.
- ^ a b "Scripps acquires uSwitch". E. W. Scripps Company press release. March 16, 2006. Archived from the original on April 8, 2006. Retrieved 2007-09-29.
- ^ Scripps Networks 10K March 1, 2010
- ^ "Zoopla to buy uSwitch price comparison site". BBC News. 30 April 2015. Retrieved 30 April 2015.
- ^ "Switched on to plain English". www.plainenglish.co.uk.
- ^ Andy Keeble (22 January 2018). "Why will Countdown's Rachel Riley be heading to North Devon this weekend?". North Devon Gazette.
- ofgem.gov.uk.
- ^ Brignall, Miles (December 11, 2006). "uSwitch accused of misleading customers". The Guardian. London. Retrieved 2007-09-29.