Google is closing the doors on its automobile insurance, credit card and mortgage comparison tools that have been available to users for a year now.
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But that was the beginning of what turned out to be a very short venture into mortgages for Google.
Articles say that aggregator service is in process of winding down and due to shut on 23 March.
Google is shuttering Google Compare, its U.S. comparison-shopping site for auto insurance, credit cards and mortgages after one year, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Google said in its e-mail to partners that the service hasn’t been as successful as they’d hoped. We greatly appreciate your partnership and understand that this decision will be disappointing to some.
A Google spokesperson added that while searches on queries remained high, the service didn’t acquire the level of traction it desired, and revenue suffered as a result.
In a statement provided to HousingWire, LendingTree said that it is unfazed by the loss of Google Compare. Google also announced that it will continue to work with the partners until the program is completely terminated and even in other future projects. The feature was earlier known as “Google Advice” and during its initial stage; it was used as a tool to sell auto insurance.
The Google Compare site launched in March 2015 as a vehicle insurance comparison site for automobile buyers in California.
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Google bought Beatthatquote.com, which became the Compare offering, in 2011 for £38m.
