Afternic sold?

[edisaacson]

I just received an e-mail from ProProject which runs NameBuySell.com saying that they had purchased Afternic and will be taking over Afternic.com. Anyone else receive this or hear about it?

 

[TexasFilly]

yepper's.. that is correct.

 

[Anthony Ng]

NameBuySell.com down!

<quote>

NameBuySell.com is being updated. Please hold on.

</quote>

 

[TexasFilly]

Originally posted by nameslave
NameBuySell.com down!

<quote>

NameBuySell.com is being updated. Please hold on.

</quote>

Be patient.. they are moving the whole 9yards (site and all) over to Afternic.com currently. Keep checking.

 

[Bob]

Wonder what the selling price was?

-Bob

 

[TexasFilly]

Originally posted by Bob
Wonder what the selling price was?

-Bob

Yes, it was previously owned by Register.com

so.. not sure how the negotiations went..

but i can say with pride, that the owners of NBS.. are really great folks... and they will make a success of the new AN......

it's all 'good news'.. 4sure

 

[TexasFilly]

it's great news....... i'm glad to see this ownership change take place...... they'll do a much better job then Register.com did with Afternic

congrat's Roger!

 

[GeorgeK]

I hope they continue to allow transactions to be settled via Escrow.com.

 

[Fearless]

Originally posted by GeorgeK
I hope they continue to allow transactions to be settled via Escrow.com.

They're not buying the business. Only the name. I wouldn't want to buy that liability either.

 

[proproject]

Thank you for the congrats. It has been a lot of work and it will continue to be, I'm sure.

GeorgeK, what do you like about Escrow.com? We are planning to do escrow in-house primarily to make the transaction simpler with only one service provider (especially for the buyers who are less familiar with the process usually).

Roger Collins

 

[edisaacson]

Congrats from here also Roger. I look forward to making the transition for NameBuySell to the "new" Afternic.

 

[CoolHost.com]

Well, it IS true! Wow. Rather than inquire as to how much the "domain" was purchased for, I'd simply like to wish you the best with its new development. Good Luck!

 

[.biz]

namebuysell.com is up.

 

[WildCard]

Didn't register.com pay like $xx million for afternic.com?

Wonder how much NBS got it for.

-WC-

 

[Bob]

Originally posted by WildCard
Didn't register.com pay like $xx million for afternic.com?

Wonder how much NBS got it for.

-WC-

Yes, $45-$48 million.

-Bob

 

[.biz]

$10 million cash + 4.38 millions share (at $9/share)

= $49.42 millions

for afternic.com...

 

[Duke]

I bet ProProject had to pay at least $49.42 for the name (but maybe not considering how badly Register mangled it)

I wish them good luck though - I already signed up. Thanks to Register there is no where to go but up!

 

[proproject]

As you might have guessed, we are not at liberty to discuss the terms of the purchase. :sad:

 

[bidawinner]

Originally posted by proproject
Thank you for the congrats. It has been a lot of work and it will continue to be, I'm sure.

GeorgeK, what do you like about Escrow.com? We are planning to do escrow in-house primarily to make the transaction simpler with only one service provider (especially for the buyers who are less familiar with the process usually).

Roger Collins

Escrow.com will provide credibility..

Escrow.com is not only well known..but well known for their professionalism, and speed of transactions.

I always feel very secure doing business with them..whether I am selling or buying.

 

[GeorgeK]

Escrow.com will allow credit card payments for transactions below USD $5000, too. This makes it a lot more convenient for those of us outside the US (I'm in Canada). I'm sure some American buyers would also like the convenience of paying by credit card, too.

The credibility factor is important too. Unless you're a bonded escrow company, there's a bit of risk just sending you money to hold in your accounts. Escrow.com has arbitration procedures too, in the event of disputes. Since your commission on a sale is 10%, that leaves a lot of room to cover Escrow.com fees, if you negotiate a lower rate with them (they're 6% for credit card transactions, and more like 1-3% for checks/wires)