Record Domain Sale 10 mil.

[Repete]

Fund .com what do you think.

 

[PRED]

Got some details? :yes:

 

[Ridge]

Very nice, this is a confirmed deal?

 

[domain newbie]

cool sale~ great name, where was sold?

 

[GeorgeK]

If it is for real, I'm glad I snagged most of Garry's good ________fund.com domains at auction last year.

 

[Rockefeller]

The domain hasn't switched hands since november of last year, any further details?

 

[tonyfloyd]

http://money.cnn.com/news/newsfeeds/articles/marketwire/0373359.htm

 

[GeorgeK]

As I posted on another forum:

A filing that might be of interest:

http://www.sec.gov/Archives/edgar/data/1335795/000121390008000113/f8k011108_eastern.htm

Structured Products. We have established Fund.com Capital Inc. to make active (non-passive) investments on our behalf, including in other financial institutions and fund management companies, and in strategic products offered or managed by either in certain instances. On November 9, 2007, Fund.com Capital entered into a $20,000,000 certificate of deposit with an Antigua bank, the Global Bank of Commerce, which is an affiliate of one of our significant stockholders (GBC Wealth Management Limited). Initially the deposit is credited with earned interest at 5% per annum for a term of three years. We have begun negotiations with the bank to change the term of the deposit to one year and to modify the interest rate from a fixed rate to a variable rate of return. We expect that the bank will determine the variable interest rate based on an index published by EQUITIES Magazine (which is owned by a significant stockholder), and that, on that basis, Fund.com Capital would receive a monthly credit (or have a monthly debit) to its term deposit in an amount equal to the increase or decrease in the published index. The term deposit would not be debited for decreases in the index for cumulative amounts that would result in the term deposit account being an amount less than the initial deposit amount. Subject to receipt of any necessary approvals (including the approval of Global Bank of Commerce, which approval could be withheld in its sole discretion), we may seek to use all or a portion of this $20,000,000 to fund one or more control investments.

Also, the fund.com website does mention the $10 million amount:

http://www.fund.com/investors_faq.html#7

How did we arrive at the $10 million purchase price for an Internet domain name?

The Internet has proven itself. The Internet connects millions of buyers and sellers everyday doing billions of dollars of business and in doing so billions of online advertising dollars and lead dollars are exchanged. The search engine Google is a prime example with $16 billion in advertising revenue. The Internet is also ideally suited to our business. Our easy to find and easy to remember address creates top-of-mind awareness for potentially tens of millions of customers. $10 million is relatively inexpensive when compared to the much greater cost of creating awareness for an upstart brand name or unknown website domain.

On the other hand, if the sale did occur, I'm a bit surprised the new owner would keep the name at Directnic (i.e. most owners would have a favourite registrar, and would tend to move the domain name away to that registrar). There were a lot of WHOIS changes in 2007, hmmmm.

 

[Rockefeller]

So a company was named Fund.com Inc before they owned the Fund.com domain name?

 

[Mahouni]

:O I think we need more of these!

 

[jasdon11]

Incredible price for a name that doesn't even pass the 'radio test'.

 

[Rockefeller]

Great sale.

 

[Mahouni]

Incredible price for a name that doesn't even pass the 'radio test'.

Now who dared to suggest that LLLL.com prices are going down! :lol:

 

[hugegrowth]

There is a news release out on the stock boards for this company so no doubt it's a true sale.

Good example of a company willing to pay a price for a generic domain that is in relation to the value of the market they are serving.

from their website, About Fund.com

Fund.com Inc. is an online financial information publisher focused on the $22.6 trillion investment fund market. As an online media company, Fund.com is establishing a destination website of personal finance channels, including mutual funds, hedge funds, money market funds, exchange traded funds (ETFs), closed end funds, commodity funds and other types of pooled investment vehicles. We seek to generate pay-for-performance online advertising revenue by connecting highly-motivated investors with financial product providers.

As a side note, I recently regged 'Agriculture Funds' in the .com due to surging commodity prices for wheat, corn, soybeans, etc. Will probably lead to more agriculture type investment vehicles.

 

[Devil Dog]

Now who dared to suggest that LLLL.com prices are going down! :lol:

LLLL had nothing to do with this purchase.

 

[GeorgeK]

The following page:

http://www.fund.com/fund.html

mentions Darren Rennick (the admin contact in the WHOIS for fund.com). That appears to be the same Darren Rennick of Prolexic.com (of Florida)

http://www.prolexic.com/company/contactus/
http://www.businesswire.com/portal/...d=news_view&newsId=20070627005161&newsLang=en

which would account for the 305 area code (Florida) for the WHOIS admin.

That would be a way to verify the transaction, call Prolexic, a very legitimate company, and speak with Darren.

 

[tristanperry]

LLLL had nothing to do with this purchase.

True, but LLLL.coms are still doing well nonetheless

 

[dominator]

Fund is not a LLLL.com name, it's a name like STOCK.com, MONEY.com, it does not matter how many characters it has.

 

[Mahouni]

LLLL had nothing to do with this purchase.

You think?

I already got my hopes up that every LLLL is around 10m. At least 1m.

 

[Keyboard Cowboy]

Fund is not a LLLL.com name, it's a name like STOCK.com, MONEY.com, it does not matter how many characters it has.

He was obviously joking...