Cyber-squatting pays
Time pressures rule.
In my preceding post [below] - published at
dvork.org/blog - “moss” commented that CNN paid $750K for the domain
name, “iReport.com”. Here’s a piece of the
backstory:
Why is this man smiling?
T.R.A.F.F.I.C. Conference co-founder and
pioneer domain investor Rick Schwartz has just completed the sale of iReport.com
to the Cable News Network for $750,000. As the contract was being finalized
Schwartz was asked if he had any similar domains so he told CNN he also owned
the hyphenated version, i-Report.com. When the cable TV company expressed
interest in getting that domain as well to protect their planned branding of
iReport.com, Schwartz said he decided to give them that less desirable name at
no charge rather than re-open negotiations and delay closing of the deal for
iReport.com.
This deal gets the New
Year off to a good start. A $750,000 deal would have ranked among the 12 largest
sales of 2007. It is also encouraging to see a major end user like CNN recognize
the key role a domain name can play as the platform for launching a new product
or service.
Cybersquatting goes
back to the founding of the Internet. There has been no shortage of folks who
recognized the value of a smart title. Some instances required litigation. Some,
negotiations.
Pretty good
return on not a lot of work.
Posted: Tue - February 12, 2008 at 07:01 AM