Axle Payments, a company that has raised $165.2 million in funding according to Crunchbase, announced that it has rebranded itself as Denim. The company acquired the Denim.com domain name in advance of the rebranding. The news was announced on LinkedIn by Co-Founder and CEO Bharath Krishnamoorthy. TechCrunch published an article about the company’s latest fundraising round and rebrand.
In early July, I noticed and shared on Twitter that the Denim.com domain name appeared to have changed hands:
https://t.co/RWGx0LOjRT, which had been owned by Reflex, transferred to Cloudflare under Whois privacy. Domain name does not yet resolve to a website.
— Elliot Silver (@DInvesting) July 8, 2022
Denim.com had been long owned by Reflex Publishing before the domain name transferred from Namecheap to Cloudflare under Whois privacy. I was able to see this Whois change in my morning Registrant Monitor alert email from DomainTools back in July.
The company published a blog post to share why it decided to rebrand itself. As one might expect, a specific name like Axle Payments proved to be too limiting as the company grew. Here’s an excerpt from the article about why it rebranded:
“Our new brand reflects our broader ambitions to weave ourselves into the everyday fabric of the global freight economy. We are Denim, and we’re on a mission to advance the supply chain by accelerating the movement of money and data. Come join us.”
I wouldn’t be confident enough to speculate on the price the company paid to acquire Denim.com. My guess would be seven figures but your guess is as good as mine. I will reach out to Bharath and team to see if they are willing and able to share the sale price.
Based on the move from AxlePayments to Denim.com, I will add this to the list of corporate domain name upgrades I maintain at Embrace.com.
Thank you to Tim Hargis for sharing this with me.