It was the end of the infamous dot.com boom, 1999, when Houston entrepreneur, 
Marc Ostrofsky, sold a domain name to Jake Winebaum and Sky Dayton for $7.5 million. That's a lot of money for a generic URL, at least it was back then. Regardless, Weinbaum and Dayton forked it over for business.com which was nothing at the time. It was an historic purchase for a name.
For a while, there were doubts and jokes about financial viability; would the URL be able to generate enough money to pay for itself? In fact, it did. The domain name that became Business.com, the web site, has consistently risen in value. Eight years after purchase, speculation is leaning toward possibility that the domain name, complete with search engine and ad network this time, will bring somewhere between $300- and $400-million. Business.com will be sold at a Credit Suisse auction.
Should a sale of such magnitude come to pass, Winebaum and Dayton won't be the only ones looking at fine profits. When they bought the name from Ostrofsky, the dotcom bust dictated that a major portion of his payment be in stock shares. This resale should give Marc Ostrofsky a sweet, green smile.
Source: Paul Sloan, Business.com on the block for a reported $400 million, The Key
Source: Ashkan Karbasfrooshan, Business.com on the Auction Block?, HipMojo
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» Know More about the Potential Sale of Business.com for $400 Million from Know More Media
This week on the Know More Media network, the topic of the potential sale of Business.com for $400 million has been a hot topic. Originally reported in the Wall Street Journal, many business experts have been voicing their analysis... [Read More]
Tracked on: June 29, 2007 6:17 PM | Permalink to Trackback