In an article by DomainNameWire.com, the World Intellectual Property Organization found that “Kitchens To Go” was guilty of reverse domain name hijacking. They may soon realize that lawsuits work both ways. Read more…
In case you missed it… Cars.com was sold as a business, but their domain was worth more than you might think. Take a moment and think about how much Cars.com the domain is worth. Did you think $872,320,000? Well read here and find out: SEC Filing for Cars.com. Specifically on page 80, “…we have an intangible asset with an indefinite life associated with the Cars.com trade name.” As the table indicates on page F-9 that “summarizes the fair values of the assets acquired and liabilities assumed at the October 1, 2014 acquisition date (in thousands),” the value of the “Indefinite-lived intangible assets” was “($)872,320.” As defined on page 80, that “Indefinite-lived intagible” asset was the tradename Cars.com domain name. Interesting huh? What’s even more interesting is the fact that Estibot.com only values the domain name at $10,390,000 as of January 4,2018. Although a good snapshot for a domainer of what a domains viability is as an investment, it is not a rock solid valuation. As in previous blog entries, I would note that the value of a domain is what the seller and buyer give it. If a seller thinks its trash, so it shall be treated. If a buyer thinks its trash, their consideration will be minimal. Perhaps this is why I don’t even acknowledge undervalued offers from buyers in regards to our assets. If one was to walk up to the seller of a premium brick and mortar property with a twenty dollar bill, hand it to the realtor, then ask when do I move in? What do you think the realtor would do or say? I would suggest they would chuckle, take a sip of their coffee, then ask that person to leave or else be escorted off the property by “Big Jimbo” or “Uncle Frankie.” An internet domain, especially the .Com, that represents an industry with a large audience and/or an expensive product is priceless. That’s why “Cars.com” was valued as such during its acquisition. That’s also why the idea of buying a domain relies, heavily, on whether a current business is operating with it, and if not whether the owner is willing to sell it for a reasonable price. But what is reasonable may be more subjective than either party might wish to admit.
An interesting perspective from Bloomberg News in regards to the recent purge of top Saudi officials, read more…
In an attempt to prevent a war that would likely claim millions of lives I have decided to give away my novelty North Korean Beer and Cosmetic line domain names… for a trade. What are the terms? They are as follows: 1) the freeing of all people from North Korea so that they may travel freely throughout the world, 2) the stopping of all nuclear arms procurement programs within North Korea’s borders, 3) the audition of Kim Jong Un on Dancing with the Stars… and not necessarily in that order.
Domains involved in this transaction:
1) TaedonggangBeer.com ~ Yes your beer brand could have its very own .com domain!
2) UnhasuCosmetics.com ~ But that’s not all… imagine the online retail explosion your cosmetic line could have!
I await your response Kim 😉
Salvator Mundi by Leonardo da Vinci c. 1500
Continuing our series, Domains – Why spend the money?, we are met with the record purchase price of $450.3 million for one of Leonardo da Vinci’s paintings titled Salvator Mundi. Normally this price would be astonishing, but it was after all a da Vinci. Paintings like this are priceless because they are one of a kind artistic pieces of art. In today’s world there are few things that are truly “one of a kind.” There are, however, a few. One of which is the domain name. There are no reproductions being prepared for the same internet domain. What you have is what you will get forever. This is why the internet domain should be considered just as priceless as this piece of art. If Leonardo da Vinci were alive today do you think he would want a good .com? I would bet he would. Do you think this comparison is unrealistic? Then let’s think of it another way.
Think of your business, your ideas, and your dreams as this priceless painting. To you they are worth more than anyone else could ever put a price on. Now, think of the internet domain as the frame that borders your business, your ideas, and your dreams just like the frame in the priceless painting above does. Without the frame, the frayed edges become obvious, and the painting itself looks unnatural when hung on a wall. But when the frame is added, it brings the viewer oneness with your dream and vision. The frame cradles your idea, so that others may look at it with approval. Your business without a good domain, is similar to a frameless aging painting beginning to chip away at the edges. People will not come from all around the world to view it. Solidify your business goals, big or small, with the right domain(s).
Happy Domaining <[_]
Have you ever just wanted to be a fly on the wall?
Recently Ashely.com was acquired for an undisclosed sum. But how it was first attempted to be acquired may surprise you.
Imagine, a meeting between board members of Ashley Furniture Industries, Inc. The subject: the failure to acquire an internet domain name (Ashley.com) using the UDRP (Claim Number: FA0811001235335). Did they ponder, “Now where do we go,” or perhaps, “How much did this lawyer cost us again?” Meanwhile, what digital media strategies did they employ outside of litigation? More importantly, where were the digital media or domain management advisors? Did they even invest in such job positions? Or was this something that seemed like, at the time, a viable low cost solution to acquiring a name that to them was premium to future digital marketing strategies?
Here’s a key formula: Garbage in = Garbage out
If you want to litigate, then litigate. But the courts may not look kindly on taking up their time with matters of business. That is, do what businesses do best, negotiate!
Negotiation always trumps litigation.
That’s why so many courts would rather parties mediate as an alternative to wasting their (the courts) time. So unless its a slam dunk trademark infringement matter, your business may want to consider stealth acquisition for the domain name, or just go ahead and make a decent offer. You never know what happens when you just take a moment to contact someone with your interests.
But it doesn’t end there.
Imagine, the owner of the domain that just spent money defending her intellectual property. Surely, the domain had a price or perhaps a range in which they would have considered selling. Now, consider how much that price just went up after discovering the plaintiff in this UDRP action was Ashley Furniture Industries, Inc. Do you think the price went up a little? I’d bet it did.
Happy Domaining <[_]
The Internet Corporation For Assigned Names and Numbers (ICANN) recently published an excellent area study titled Accelerating the Digital Economy in the Middle East, North Africa and Turkey. As noted, the region has a young population demographically, and a growing number of them are regularly using the internet. A priority for affordable connectivity is key for the region, as well as a long-term digital strategy to include a transparent and predictable regulatory network. A good read and recommended for anyone thinking about the digital future for this region.
Because of these folks attempting hacks I have to add more server bandwidth… Sad…
We continue our series on why spending money on domains is not only logical, but a cost effective marketing strategy for your company or as an agency of record (AOR)*. According to a Cushman & Wakefield publication titled Main Streets Across the World 2017, retail space costs some serious buckaroos for a brick and mortar business model. Consider the graphic below redacted to solely the top ten.
Credit 2017, Most Expensive Locations by Country by Cushman & Wakefield
Next, let’s consider the average square feet needed for a successful brick and mortar business model. Acording to the balance the formula Sales Volume ÷ Sales per Square Foot = Selling Space may be applied to deciding the retail space needed to be successful in the traditional business model. There are a lot of businesses out there, so let’s consider one specific niche… COFFEE! According to Starbucks their average store size is 1,700 square feet. Now… let’s apply this to the top ten list above!
According to those figures an average cost for retail space of an Upper 5th Avenue coffee shop in New York City per year would be $5,100,000! Going down the list respectively: Hong Kong @ $4,632,500, London @ $2,922,300, Milan @ $2,436,100, Paris @ $2,391,900, Tokyo @ $2,040,000, Sydney @ $1,700,000, Seoul @ $1,553,800, Zurich @ $1,501,100, & Vienna @ $833,000… PER YEAR!
So why spend money on acquiring a domain? I can think of millions of reasons… millions of $s that is… Consider investing in a domain name that describes what you do and is memorable for your customer. That being said some things are never going to be challenged by the online retailer… like coffee right? Think again!
Credit 20th Century Fox’s 1984 Movie Revenge of the Nerds
*Note: An agency of record or AOR in the advertising world is a single agency responsible for all the services that a particular business might require. These services traditionally include a brand strategy including creative and media placement.
Credit 2017 The Estate of Jean-Michel Basquiat / ADAGP, Paris / ARS, via Sotheby’s
This is the first of a series of posts that we will introduce what some may think illogical. We would deduce otherwise. Consider a domain as your leasehold in the shopping mall that is the internet super highway. When you came to JavaMedia.com, did you type in “220.127.116.11” or JavaMedia.com? Well the actual IP address for Java Media is in fact “18.104.22.168,” but that would be ridiculous to even attempt advertising such an address for people to remember. So the next time you think such domain name sales as “PrivateJet.com” that sold for $30.18 million in cash and stock back in 2012 are ridiculous, consider this painting. Do you think people who see it ask, “Who the hell would pay over $100 million dollars for a painting like that?” Well it just so happened yes, people do spend that type of money on such a masterpiece. If the artist had dealt with it by throwing it to the trash heap then it would have been worth nothing. The price depends on the seller and the buyer. So if you’re a HNWI or a company needing a quality .Com, and I happen to have one that you may want… think of this painting 🙂