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Welcome to the The
Lowdown from
DN Journal - your source for notable news
and information from all corners of the global
domain name
industry!
The Lowdown
is compiled by DN Journal
Editor & Publisher Ron Jackson. |
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Price
Paid for Chat.com Last Year Confirmed to Be $15.5
Million Making It One of Top 2 All-Time Publicly
Reported Domain Sales |
Last
year at this time Hilco
Digital Assets Managing Director Andrew
Miller and fellow pioneering domain
broker Larry
Fischer were busy helping Hubspot
Co-Founder and CTO Dharmesh Shah put
together a multi-million acquisition of the
super-premium domain name Chat.com. Andrew
and Larry represented the seller but Andrew also
served as a facilitator in bringing both sides
together - a role he frequently plays due to the
extraordinary high level contact list he has
developed over the past two decades. Having
a hand in historic sales is nothing new for any
one of these three. In 2022 Dharmesh acquired
Connect.com for $10 million in
the year's highest publicly reported sale (and one
of the five highest ever). Andrew and Larry,
working individually, together or with
other partners have closed hundreds of millions of
dollars worth of sales in their illustrious
careers. |
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The
exact price paid in eight-figure domain sales
rarely gets released to the public and up until a
few days ago, it seemed unlikely we would ever
learn what Chat.com sold for in the spring of
2023. However, as Andrew noted on his LinkedIn
feed, Dharmesh, during an interview on
the Lenny
Rachitsky podcast, revealed he had
paid "$15 million+" for Chat.com.
Ever since, people have been speculating about
what that + represented (we were among them
as having the exact price would allow us to
chart the sale and give the public another great
example of just how valuable top tier domains can
be).
This
week I've been in daily contact with Andrew
because we are working on a profile about
him that will be our next cover story (due
out by the end of the month). It gave me an
opportunity to talk with him about the
Chat.com sale and see if there was any way
he could confirm the exact price for me. He
always strictly adheres to any
non-disclosure agreement that is in place
but with Dharmesh opening the door, Andrew
was able to share that the price of the
domain was $15.5 million net
for the name plus escrow and related costs. |
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Andrew
Miller
and Larry Fischer speaking at NamesCon
Global 2023 in Austin,Texas about some
of the biockbuster
deals they have done together including Chat.com
and Home.com. |
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With
that information we will be adding
Chat.com to the 2023
Top 100 Chart in our Domain
Sales Archive Wednesday
evening (April 17) when our next bi-weekly
domain sales report will be
out. In addition to being the #1
sale of that year, it will also be added to
our all-time
Top 20 list where it will stand at #2 behind only the $30 million sale of
Voice.com. Congratulations to everyone
involved in this landmark sale! |
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(Posted
April 16, 2024)
*****
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See
all of our recent posts in the full
Lowdown section.
If you've been out of the loop longer, catch up in the Lowdown
Archive! |
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