Banks.com, a publicly traded company on the New York Stock Exchange / American Stock Exchange, sent out a press release this morning announcing that the company has put Look.com up for sale as part of a divestiture of its “non-core domain assets.” The domain name has been listed for sale on Sedo and received 26 offers (granted there’s no offer minimum).
The price to purchase Look.com was not revealed, but the company seems to be looking to make a deal in the near term. According to the press release, “the company plans to accept the best immediate offer it receives for Look.com and reinvest the proceeds of the sale into continuing to expand its presence in the online tax vertical.”
Back in July of 2008, Look.com was for sale on Ebay for $2 million, according to a Gawker article. I am unsure of when Banks.com acquired Look.com, but privacy shield was removed for the first time since 2007 in February of 2010.
If you’re interested in making an offer for Look.com, the contact information for the CEO of Banks.com is listed in the press release below.
Banks.com Press Release:
Banks.com, Inc. operator of leading financial services focused online media properties, today announced that it has exited its legacy search business and that it will begin divesting its non-core domain assets beginning with the sale of the domain name, Look.com.
“With our exiting the search business, we will begin divesting those assets that are not core to the finance vertical and convert those assets into cash to help build our core business going forward,” said Dan O’Donnell, Chief Executive Officer of Banks.com. “Look.com isn’t just a great domain name; it’s a phenomenal domain name the likes of which rarely come up for sale. We encourage any interested parties to make their interest known.”
The company plans to accept the best immediate offer it receives for Look.com and reinvest the proceeds of the sale into continuing to expand its presence in the online tax vertical. Interested parties may email their offers and inquiries to the contact provided below.
Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. Such forward-looking statements are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and may include statements regarding acquisitions, business estimates, future contracts, future financial performance and results of operations, including cost of revenues, operating expenses, interest expense, net loss and cash flow. Unless otherwise required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release. Additional information concerning risks and uncertainties that may cause actual results to differ materially from those projected or suggested in the forward-looking statements may be found in Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K filed with the U.S. Securities and Exchange Commission.
About Banks.com
Banks.com, Inc. owns and operates internet media properties including: banks.com, irs.com, filelater.com and mystockfund.com. Our properties provide users with finance-related content and services and vendors with targeted online advertising opportunities. Through banks.com, we provide access to current financial content, including financial news, business articles, interest rates, stock quotes and financial calculators. We also provide users access to tax related services including online tax preparation through irs.com, online tax extensions through filelater.com, and online stock brokerage services through mystockfund.com.
Contact Information:Dan O’DonnellChairman and Chief Executive OfficerBanks.com, Inc.(415) 962-9799dodonnell@banks.com
