Sarasota, FL 4/2/2008 8:00:41 PM
The Ten Million Dollar Domain (OTCBB: FNDM)
Pennycents Magazine reports on Fund.com
Pennycents Magazine, the market’s most valuable research tool covering micro-cap, penny stocks and otcbb equities, issued the following daily column by Dan Blacharski.
There are people who sit around trying to come up with great domain names, register them, and wait for someone to buy it. It’s a little like playing the lottery. Here’s one all of us wish we would have come up with first—Fund.com. This domain recently sold for a record ten million dollars in an all-cash transaction, the highest price ever paid for an Internet domain.
Who pays ten million dollars for a name? It’s worth taking a look behind the scenes and finding out. Such a high price tag means two things: The domain itself is valuable as a brand, and the buyer must have some very definite plans in mind to be willing to pay that much. As it turns out, the buyer, Fund.com Inc., is an over-the-counter traded company (OTCBB: FNDM.OB). The previous record was made when the business.com domain was sold for $7.5 million in 1999. That domain proved to be a good investment, by the way—it was later re-sold to RH Donnelly for $345 million.
Fund.com has some interesting plans and apparently, the money to back them. Positioning itself as an online financial information publisher focused on the investment fund market, the company matches investors with financial product providers—deriving revenue from advertising, lead generation and licensing fees.
The idea of providing a venue, primarily for an upscale baby boomer audience, for investment research and lead generation is a solid one, and one that has already been proven by sites such as Bankrate.com, Lendingtree.com and others. Whether there’s still room for one more remains to be seen, but Fund.com certainly has some skin in the game with its ten million dollar name. The company became publicly traded just recently, in January after Eastern Service Holdings undertook a reverse merger with Fund.com, which had been privately held. The web site is up and running and has plenty of good information, but isn’t yet fully operational. Nonetheless, the company has a lot of power at the top, with several top-level execs and financial experts on the board. To date, Fund.com is as they say in the dotcom business, mostly vapor, but it’s ten million bucks worth of vapor, and I look for it to materialize into something solid in the not to distant future.
The writer does not own shares in the above stocks.
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