Phoenix, AZ, June 11, 2008 --(PR.com
)-- In April, pizza.com sold for 2.6 million, not to be outdone by fund.com fetching a record $10 million in May by broker Clek Media. Due to record prices being fetched for these 1 word domain names, a new market is emerging for multiple word extensions.
Industry giants ArrowBranding.com & HugeDomains.com are seeing record sales for their 2 and 3 word domains. Analysts believe that most decent 2 word domains will be gobbled up by the end of the decade.
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.”
Have a 2 or 3 word domain you've been holding onto? Now may be the time to cash in.