Clek Media Inc. Brokers World-Record $10 Million Domain Sale
March 11, 2008: 11:59 AM EST
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Clek Media Inc. ("Clek") today announced that it has brokered the world-record sale of the domain FUND.COM for US$9,999,950 in an all-cash transaction. Clek, a media consulting firm, represented the seller of the domain, assisting in both the negotiation and closing of the transaction. The buyer is Fund.com Inc. (OTCBB: FNDM), a New York firm previously named Meade Technologies Inc. To date the buyer has revealed their plans for the domain mostly in filings with the US Securities and Exchange Commission.
Clek believes that the nearly $10 million purchase price for FUND.COM represents the highest price ever paid for an Internet domain. The purchase price tops what the Guinness World Records books report as the highest previous price, the memorable BUSINESS.COM purchase. Ex-Disney executive, Jake Winebaum of eCompanies Ventures, acquired BUSINESS.COM for $7.5 million in 1999, which created some public media controversy at that time for the seemingly high price. However, in July 2007 BUSINESS.COM was sold to yellow pages publisher, RH Donnelly, for $345 million, 47 times the purchase price of the domain.
Business and Wall Street investors continue to assign higher values to internet domains. According to MSNBC, the domain CREDITCARDS.COM was acquired for $2.75 million all-cash and SEC filings reveal that the $20 billion hedge fund, American Capital Strategies, and Austin Ventures invested $135 million in CREDITCARDS.COM. Regarding the CREDITCARDS.COM sale, MSNBC quoted ClickSuccess CEO Dan Smith, "It's like prime real estate, there's only so much of this real estate to go around. I feel like we bought a slice of Park Avenue."
About Clek Media:
Clek Media Inc. ("Clek") is a digital media consulting firm dedicated to enhancing the value and financial returns of its clients. Clek specializes in helping companies develop intellectual property in the digital space. Clek consultants work with top management to find new and better ways to make money in this rapidly growing area.
"Clek" is a trademark of Clek Media Inc.
Addendum
Below are the reported top 20 domain names sales before the sale of FUND.COM, or top bids that did not meet the minimum required reserve price, according to DN Journal:
(Note to editors: Some reports list the sale of SEX.COM in 1999 for $12 million as the highest-priced domain sale; however, that sale did not close. The original registrant sold the domain to another buyer, Escom, LLC, in 2006, but the price for this second contract was never reported.)
Porn.com 9,500,000 2007
Business.com 7,500,000 1999
Diamond.com 7,500,000 2006
Beer.com 7,000,000 2007
Asseenontv.com 5,100,000 2000
Seo.com 5,000,000 2007
Auction.com 4,500,000 Reserve 2007
Dermatology.com 4,500,000 Reserve 2007
HorseRacing.com 4,500,000 Reserve 2007
Slots.com 4,500,000 Reserve 2007
PuertoRico.com 3,500,000 Reserve 2007
Shop.com 3,500,000
Altavista.com 3,300,000 2002
Creditcheck.com 3,000,000 2007
Scotland.com 3,000,000 Reserve 2007
Student.com 3,000,000 Reserve 2007
Vodka.com 3,000,000 2006
Wine.com 2,900,000 1999
CreditCards.com 2,750,000 2004
PressReleases.com 2,500,000 Reserve 2007
Contact:
Vicki Smith
Clek Media Inc.
(214) 717-5314
March 11, 2008: 11:59 AM EST
<!-- m --><a class="postlink" href="http://money.cnn.com/news/newsfeeds/articles/marketwire/0373359.htm">http://money.cnn.com/news/newsfeeds/art ... 373359.htm</a><!-- m -->
Clek Media Inc. ("Clek") today announced that it has brokered the world-record sale of the domain FUND.COM for US$9,999,950 in an all-cash transaction. Clek, a media consulting firm, represented the seller of the domain, assisting in both the negotiation and closing of the transaction. The buyer is Fund.com Inc. (OTCBB: FNDM), a New York firm previously named Meade Technologies Inc. To date the buyer has revealed their plans for the domain mostly in filings with the US Securities and Exchange Commission.
Clek believes that the nearly $10 million purchase price for FUND.COM represents the highest price ever paid for an Internet domain. The purchase price tops what the Guinness World Records books report as the highest previous price, the memorable BUSINESS.COM purchase. Ex-Disney executive, Jake Winebaum of eCompanies Ventures, acquired BUSINESS.COM for $7.5 million in 1999, which created some public media controversy at that time for the seemingly high price. However, in July 2007 BUSINESS.COM was sold to yellow pages publisher, RH Donnelly, for $345 million, 47 times the purchase price of the domain.
Business and Wall Street investors continue to assign higher values to internet domains. According to MSNBC, the domain CREDITCARDS.COM was acquired for $2.75 million all-cash and SEC filings reveal that the $20 billion hedge fund, American Capital Strategies, and Austin Ventures invested $135 million in CREDITCARDS.COM. Regarding the CREDITCARDS.COM sale, MSNBC quoted ClickSuccess CEO Dan Smith, "It's like prime real estate, there's only so much of this real estate to go around. I feel like we bought a slice of Park Avenue."
About Clek Media:
Clek Media Inc. ("Clek") is a digital media consulting firm dedicated to enhancing the value and financial returns of its clients. Clek specializes in helping companies develop intellectual property in the digital space. Clek consultants work with top management to find new and better ways to make money in this rapidly growing area.
"Clek" is a trademark of Clek Media Inc.
Addendum
Below are the reported top 20 domain names sales before the sale of FUND.COM, or top bids that did not meet the minimum required reserve price, according to DN Journal:
(Note to editors: Some reports list the sale of SEX.COM in 1999 for $12 million as the highest-priced domain sale; however, that sale did not close. The original registrant sold the domain to another buyer, Escom, LLC, in 2006, but the price for this second contract was never reported.)
Porn.com 9,500,000 2007
Business.com 7,500,000 1999
Diamond.com 7,500,000 2006
Beer.com 7,000,000 2007
Asseenontv.com 5,100,000 2000
Seo.com 5,000,000 2007
Auction.com 4,500,000 Reserve 2007
Dermatology.com 4,500,000 Reserve 2007
HorseRacing.com 4,500,000 Reserve 2007
Slots.com 4,500,000 Reserve 2007
PuertoRico.com 3,500,000 Reserve 2007
Shop.com 3,500,000
Altavista.com 3,300,000 2002
Creditcheck.com 3,000,000 2007
Scotland.com 3,000,000 Reserve 2007
Student.com 3,000,000 Reserve 2007
Vodka.com 3,000,000 2006
Wine.com 2,900,000 1999
CreditCards.com 2,750,000 2004
PressReleases.com 2,500,000 Reserve 2007
Contact:
Vicki Smith
Clek Media Inc.
(214) 717-5314