Google is shutting down a service that allowed web users to compare offers for car insurance, credit cards, and mortgages, according to a report from The Wall Street Journal. The site, called Google Compare, launched in March 2015, and is currently available in the US and the UK. The site aimed to simplify financial services for consumers, with Google taking a commission on referrals or in some cases selling products directly to users.
But the site apparently didn't live up to Google's expectations, as explained in an email to partners on Monday. "Despite people turning to Google for financial services information, the Google Compare service itself hasn’t driven the success we hoped for," reads the email, which was obtained and published by Search Engine Land. Citing a person familiar with the service, the Journal reports that Google struggled to sell ads on Compare, because users typically visit several different sites before making a decision, and was never able to bring the largest insurers and lenders onboard.
According to the email, Google will begin winding down the service this month, before closing it on March 23rd.