I sold ireport.com to CNN I hear this chatter about 'I' domains. The
'I' part of the equation in the domain name is a very small part of
the equation. The power the 'I' had in this particular domain is
extremely powerful. But as the title suggests, it is not about the
'I' domain. It is about the 'C' in
'Circumstance.' Circumstance is what drove this deal and drives
almost all deals.
let me peal this back a bit. CNN got the deal of the century. $750k was a
bargain. The value was close to $7.5M and I am going to explain why I plan to
get $7.5M as a result of this deal. First of all this may become the highest
profile domain to be sold and used in a very long time. CNN may advertise
ireport.com hundreds of times a day throughout the world. And each time any of
us hear that, it will remind the industry and then eventually the world about
this deal. The BARGAIN this deal will become in the eyes of the market. That
alone will raise values across the board as folks begin to realize what power a
domain, a great domain, can have to set you apart from the competition.
race is on. Will Fox News fight back and get uReport.com? The one thing that is
a SURE BET, is WHEN that domain eventually sells to Fox, and it WILL sell to
them at some point, it will sell at a rate much higher than $750k.That deal
will likely never be known when it does happen, but there is no question that
the table is set for a multimillion dollar sale. Do you hear that Seattle? Bases are loaded. So that is really the next piece of the puzzle to follow. This has
the power to blow the lid off the domain industry. Two titans at WAR and it is
their domain names that will be their leading Generals.For the love of Pete, they pay $750k for a picture of Britney's panties!This domain may actually define both networks for the next generation. Comparable? You decide. This may illustrate to the markets and business world that a domain name value is a drop in the bucket when compared to other income producing assets. The very future of ALL business is wrapped up in their domain names. It has been that way for a dozen years and it will be a recession or a crash in 2008 that forces all business to re-evaluate how they do business and why I would make such statements. How many other industries and
titans will fight similar battles? The value of this sale will be pointed to as
another mile marker not only in the domain industry but in business because of what is still yet to
unfold. The best is yet to come.
Have a GREAT Day!
Good Morning Folks!!
I would love to give the details of the sale but by contract I am not allowed.
However if you read my past posts, the secrets of how I approach this are all
there. NOW maybe the industry will REJECT the 'X' factor. This was
CRAP introduced by the VC guys that has NOTHING TO DO WITH DOMAINS!!!!
If domainers want to be FOOLS and keep selling for 'X', I will keep
saying that domainers are leaving a FORTUNE on the table and don’t understand
the anatomy of a great domain name. Maybe this will blow the lid off all the
appraisals services. They are ALL WORTHLESS. Absolutely worthless. Not a single
one has a clue. Not a one and SCAM is usually the first thing that comes to
mind when I read a worthless appraisal that somebody actually paid for.
ireport.com sale shows that conventional valuations are fundamentally flawed as
they do not take into account the biggest part of what makes a domain name valuable.
When I say something like this, appraisers tilt their head like the RCA dog.
They react like I am talking a different language. So this is why I give no
credence to ANY domain appraisal service. They are ALL worthless and many are
slanted depending on their circumstance while others are pure rubbish. If
someone waives an appraisal in my face they get a laugh right back in their
face. It is like wearing a billboard that says, “I am a clueless rookie.”
come to a true value it would have to be by committee and that committee would
have to be made up of successful domainers as well as others. Without
discussing all the possible attributes of a domain name it is impossible to
come up with a value. Those buying and selling based on 'X' are
playing somebody else's game. Don't be foolish enough to swallow their silly
valuations. I have said this over and over for year after year and maybe since
some of these players have disappeared as fast as they appeared, maybe now
folks will take notice. Like I said, I have blog posts about it right here for
anyone willing to dig!
I admit that ireport.com was a perfect storm. All the elements were in place
for a pretty big payday. However what the following years will show is this “Perfect
storm” will be repeated by me and others many times.
I can't go into the details of the negotiations, what I can say is it took
several months and the main sticking point at contract time was whether this
sale would be made public. Something for me that was non-negotiable. I would
have walked from the sale if I could not report and publicize it. If DNJournal
could not include it in their updates. The deals never reported would make
everyone here, think differently about their assets. Still, folks are more
focused on traffic and stats and 'X' than they are on what makes a
domain great and have value and have great value to others before that event
is a stepping stone. What it does is take what we do from theory to reality.
When we look back at this sale in 10 years, people will say it was cheap and
should have been sold for 10x that number. It's a stepping stone because
sometime soon it will be unusual for any good domain to sell for under 7
figures. Then 8 figures. We are entering the period of time where we will see
some significant domain sales. During this slow down or recession, it will be
the DOMAIN INDUSTRY that is the shining light on the hill. A place where great
fortunes can and will be made. Times like this fuel emerging growth and we are
more than emerging. We are busting out when everyone else is bailing out. We
are positioned very well and this rocky financial environment we are in will
benefit the domain industry more than any of us could do alone or collectively.
Have a GREAT day!
This is a great example of an end user realizing how important having a key
generic domain is in future growth and development of a brand. Especially an end
user that has been a true pioneer in the space.
am on the 8th day of
a 9 day cruise. Most cabins on a ship are about 200sq. ft. The cabin I am in is
5300 sq. ft. Complete with private swimming pool, sauna and jacuzzi. The butler
brings breakfast at 8:30 and the concierge takes care of all the daily
arrangements. This is the 2nd time in the last 12 months I have taken the same
cruise and same suite. It just doesn't get much better.
I like this lifestyle
and I will do what I can do to protect it. Next week or the week after DNJournal
will report on a domain sale I inked yesterday. The domain sold for $750,000 to
the end user. A domain I registered in 1997. So not a bad return. $70 or $100
turns into $750k. in 10 years. More details to follow. What I can say is this
will be a VERY high profile domain and used by a true pioneer of the Internet.
Their site up before I even bought my first domain name in 1995.
So things are
There are flaws and
abuses on the Internet. In lawmakers zeal to fix things there will be some tiny
provision somewhere that will change how you do business. It WILL happen. It's
not an 'If.' Domainers think they are immune to losing everything. All they have
to do is put gold in their pocket but don't have resources allocated to
protecting and preserving that gold. I see 2008 as the last chance domainers
will have a say in their own industry. The under toe that will come this year
will remove all cockyness from anyone who reads this.
Sure, it's easy to
laugh and ignore. It's much harder to educate yourselves about threats on
multiple fronts. If domainers are not represented at each of those fronts, they
forfeit and whatever the aggressor wants, the aggressor will get.
What is the state of
the industry? Read what the prominent folks of the
industry have to say. Also you can see my extended thoughts on the middle and wnd of page3.The VERY LEAST anyone
reading this should do is get the ICA newsletter and see
the attack we are under. Better yet, join the ICA and protect your assets. Help
expose abuses. The latest by netsol. If you don't know what is going on....are
you really even in the domain industry?
Have a GREAT
The earth will revolve
today but it just may seem a little faster than most days. 2008 is about to
start with a BANG. A very BIG bang. What will it all mean? Stay tuned. This is a biggie! We are going to start the year off right.
Moniker and Oversee Join Forces!!
As I have stated before, 2007 was a challenge. But when you
meet the challenges you come out stronger than ever. For some that is an unusual
year. For me, it is business as usual. The more they throw at me the better I am
going to be. T.R.A.F.F.I.C. marched into New York City in the fall and Steve Forbes
shared an evening with us in Florida. Terry Jones got our attention in New York
and John Reese gave us some great tips in Las Vegas. I am still trying to get my
head around the importance of having Steve Forbes come to TRAFFIC. I have
listened to the CD several times but it is packed with so much info and detail
and history, that iit is taking me a lot of time to figure it all out. That
night will pay dividends to the domain industry for years to come. Anyway, here
are some links to stories, articles, and interviews from 2007. There are more,
but these are the ones I could locate. There are just so many stories to tell in the domain industry. These are mine and I look forward to reading others.
Review of TRAFFIC NEW YORK 2007
Article TRAFFIC EAST MIAMI 2007
Review of TRAFFIC EAST MIAMI 2007
5 Questions with Elliot
Domisfera.com Deep Intervierw
Most Influential domainers
The big Bruhah
My take on domain appraisals on Sahar's Blog
Deep Interview and video with Brett Tabke
A little youtube fun at the Cowboys.com party
Special guest post on Frank Shilling's blog
Each morning many of us
have a ritual we do. We check emails, stats, bank balances, stock portfolios, news,
blogs, scores, auctions, drops, domains,etc. We have our daily morning list of sites we go to. So today
I would like you folks to be the poster. Where do you go? What sites do you
visit? What does your morning look like when you open the lid of your computer
in the morning or move your mouse and start your day?
Have a GREAT day!
PS: 12 years ago TODAY, a morning like this, I registered my first domain name. A single act that changed my life and destiny. You just never know which seed you plant TODAY will change your life tomorrow.
This post was 12 years in the making. 1996 was my first
Christmas online in which I had an online business earning significant revenue.
From 1996 to 2006 Christmas Day was the single slowest day of the year. It wasn’t
even close. Earnings and traffic down as much as 75%. I would be lucky to earn
one SLOW days take on Christmas Eve and Christmas Day combined. Well 2007 is
much different. Christmas Day traffic was down by about 20% and earnings were
better than TEN other days in the month of December. This is simply
amazing and LONG overdue. It means surfers are surfing and retailers are
selling things. Did advertisers finally figure out that with every store closed
in the real world that people will shop online and many of the gifts are cash
or gift cards that are burning a hole in people's pockets? That online is
the ONLY game in town on Christmas Day no matter where in the world you are?
There is a LOT of
misinformation out there. For example, here is one nobody will agree with
because folks just listen and repeat and don't observe for themselves. TODAY is
the single busiest retail day of the year. The day after Christmas is the big
one. Don't listen to the baloney that it isn't. It is. The difference between
today and the day after Thanksgiving for example is today they are buyers. The
day after Thanksgiving they are shopping. Looking. Deciding. Today, it is ALL
about sales, returns, exchanges and spending those gift cards and cash. TODAY
is the busiest retail day of the year. Just go to a Target and look how many
extra registers are open today that were not open during the Christmas shopping
season. Nobody will agree because the experts tell you HOG WASH and people
repeat what they hear. There is no question in MY mind that TODAY, the day
after Christmas is the busiest day. NONE! Now let me give one caveat. While it
IS the BUSIEST day of the year, it may or may not be the day they ring up the
most sales. Because of returns and exchanges that number is likely to be
watered down. However I would venture to say that more total TRANSACTIONS are
conducted today and that is why you will see big retailers set up extra
registers and have a full staff. Going to the mall today? Going mid afternoon?
As you vehemently disagree with me give it a second chance when you start looking
for a parking space.
So the BIG news,
Christmas Day is no longer the slowest day of the year and someday may actually
being one of the busiest. Can you spell CAPTIVE AUDIENCE? I started my last
post with the following sentence that I am going to use to close this post
because I can’t wait to see it happen. AGAIN. “In the first few weeks of the
year we will hear how the experts are surprised about how strong online
spending was. The experts are really no experts at all or they would have
predicted what is coming not reacting to it.”
Have a GREAT day!
Good Morning folks!!
2007 has been a great
year. The challenges came from every direction and we emerge stronger than ever and ready
to tackle 2008. It's still a couple weeks away but 2008 is already in full
swing. In the first few weeks of the year we will hear how the experts are surprised
about how strong online spending was. The experts are really no experts at all
or they would have predicted what is coming not reacting to it.
The same may be true of
the Presidential primaries that in the next few weeks may change the entire
picture as the nominees from each party emerge. In all my life I have never
seen a more interesting race and be prepared for some surprises. I have no idea how it will shake out. What are your thoughts?
2008 won't be without
its' challenges. The economy is in a bit of turmoil but unlike past economic
woes this time employment is very strong so the dynamics may be quite a bit
different. We are at a teeter totter point and I am not sure if we will
teeter or totter. We just might squeak through but not without some real pain
scattered through the economy. Then again it could get very ugly as we really
are in uncharted territory. The saving grace may be the Internet. But if the
folks begin to run scared and pull back, it will lead to a self fulfilling
prophecy and they will be responsible for their own undoing. In slowdowns you
don't pull back. You gun the engine and hope you can minimize the impact as
opposed to pulling back and let the tide be your destiny. You fight to stay
even or you lose very big.
Personally I am looking
forward to the coming shakeout. There will be all types of opportunities and
bargains spread throughout the business spectrum. Many things may manifest
themselves in an unpredictable manner. As Steve Forbes told us directly in
October, be prepared for a 'Roller coaster' of a ride. The key is having CASH to swoop down and score big.
Like many of you I am
going to unwind and enjoy the next few weeks. I will return in mid January
ready to go for 2008. Until then I invite you to go back and read my 52 posts
that I made in 2007. Most will pay you dividends the minute you read some of my
points and think about it. Even if you disagree, I force you to engage. I force
you to reconfirm. I force you to take a second look at something that you may
think complex and actually find out it is quite simple.
To get you started here
is a list compiled by someone as 5 of the top 100 domain blog posts this year.
I encourage you to read all my posts like they were chapters in a book. With
the exception of a handful they are all related and entwined.
The Line in the Sand
Truth to power
The 'C' word
How Madison Avenue let
corporate America down
ins' represent more eyeballs than American Idol
Happy holidays, Merry Christmas, Happy
New Years, GOOD HEALTH to all and see you when there is something to say.
Have a GREAT day!!