Products

EMARKETER delivers leading-edge research to clients in a variety of forms, including full-length reports and data visualizations to equip you with actionable takeaways for better business decisions.
PRO+
New data sets, deeper insights, and flexible data visualizations.
Learn More
Reports
In-depth analysis, benchmarks and shorter spotlights on digital trends.
Learn More
Forecasts
Interactive projections with 10k+ metrics on market trends, & consumer behavior.
Learn More
Charts
Proprietary data and over 3,000 third-party sources about the most important topics.
Learn More
Industry KPIs
Industry benchmarks for the most important KPIs in digital marketing, advertising, retail and ecommerce.
Learn More
Briefings
Client-only email newsletters with analysis and takeaways from the daily news.
Learn More
Analyst Access Program
Exclusive time with the thought leaders who craft our research.
Learn More

About EMARKETER

Our goal is to unlock digital opportunities for our clients with the world’s most trusted forecasts, analysis, and benchmarks. Spanning five core coverage areas and dozens of industries, our research on digital transformation is exhaustive.
Our Story
Learn more about our mission and how EMARKETER came to be.
Learn More
Methodology
Rigorous proprietary data vetting strips biases and produces superior insights.
Learn More
Our People
Take a look into our corporate culture and view our open roles.
Join the Team
Contact Us
Speak to a member of our team to learn more about EMARKETER.
Contact Us
Newsroom
See our latest press releases, news articles or download our press kit.
Learn More
Advertising & Sponsorship Opportunities
Reach an engaged audience of decision-makers.
Learn More
Events
Browse our upcoming and past events, recent podcasts, and other featured resources.
Learn More
Podcasts
Tune in to EMARKETER's daily, weekly, and monthly podcasts.
Learn More

Rocket seeks to diversify through $1.275B deal for PFM app Truebill

The news: US-based proptech Rocket Companies agreed to acquire personal finance app Truebill for $1.275 billion in cash in a deal expected to close before the end of 2021.

  • The parent company of real estate, mortgage, and financial services firms, Rocket is best known for Rocket Mortgage—branded as Quicken Loans until the company went public in July. It’s created a large real-estate-focused ecosystem, but it also offers auto and personal loans.
  • Truebill, also US-based, provides a consumer-facing app that manages subscriptions, automates savings, and offers spending insights and budgeting tools. It says it has 2.5 million members.

More on this: Although the personal finance management (PFM) market is crowded, and Truebill is competing with the likes of Cleo, Albert, and Acorns, it’s on track to generate $100 million in annual recurring revenues, according to Rocket. And its 2021 revenues are more than double those of 2020.

Rocket’s also been growing, fueled by the hot US housing market, which has made it the largest mortgage lender in the US—it funded $313.4 billion during 2020, more than doubling the $141.6 billion it originated in 2019.

The bigger picture: Fintech consolidations are escalating as winners break away from the pack and seek to build a larger range of products.

  • After 2020’s meteoric growth, Rocket’s 3Q net income fell 53% from a year ago, and its public market price has languished. Its IPO listed below its target price range, suggesting investors didn’t see it as part of the higher-flying tech cohort.
  • Early in November, Rocket’s CEO and vice chairman, Jay Farner, told Yahoo Finance that the company was following a diversification strategy and looking among fintechs for acquisitions that could fit into its platform.
  • In a press release on the Truebill deal, Rocket said it wants to keep customers engaged with its ecosystem when they’re not buying a home or vehicle.

The real estate market is cyclical. Impending interest rate hikes in the US will likely cool the record highs the mortgage market hit. Truebill’s steadier revenues will be welcome—as will be the detailed financial data it harvests from users. The latter might be the most valuable asset in this deal, if Rocket makes more fintech acquisitions to use it.