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Generic Domain Names

Schwartz Set to Sell Candy.com for $3m

Elliot Silver
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11

Rick Schwartz has announced that he reached a deal is set to sell Candy.com for $3,000,000 + an ongoing percentage of sales. The domain name was is said to be purchased by an undisclosed US candy maker.

Several months ago, I believe Rick had been forwarding traffic from Candy.com to Hersheys.com, but I don’t know if this might be a precursor to the sale.

The recent million dollar + sales of names like Auction.com, Toys.com and Candy.com show that the domain market is still strong at the top.   Brands are great, but one word category killer .com domain names that get significant type-in traffic will always get type in traffic, and these domain names can consistently drive revenue for a company.

***Update***

Although the title of Rick’s article says “Rick scores a sweet deal,” indicating that a deal was finalized, some of the content from inside the article indicate that the deal might not be completely closed yet.   “In what will be another landmark deal, I am able to report that Candy.com is set to sell for $3M plus an ongoing percentage of sales to a US based candy company.” I don’t think Rick would have reported this on his blog if he wasn’t certain it would close, but I wanted to post this update.

Help a Good Cause Choose a Good Domain

Elliot Silver
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0

A friend sent me information about a contest being run by New York City Alliance Against Sex Assault to help them choose a new domain name for their website, which currently resides on nycagainstrape.org. The reason they are looking to change their domain name is outlined on the contest website:

The URL change comes as a response to the need identified in a number of projects: (Project ENVISION, the Adult Health Map) to discuss sexual violence in a way that makes it easier for more people to talk about it. The Alliance is against sexual violence, but what does the world without sexual violence look like and how do we explain it? That’s where we need YOUR help.

I think this is a smart idea because their current domain name is very specific, and a broader name could encourage a wider audience to visit and participate in their programs. The organization’s mission is to build the capacity of communities, organizations, and institutions to advance the right to live free from sexual violence and reduce the harm it causes individuals, families, and society.

If you have an idea for a good domain name, please submit your idea to: Contest@nycagainstrape.org. If you own a great domain name that would be of interest, perhaps you could donate it in exchange for a charitable gift deduction. Otherwise, feel free to submit domain names that are available for them to register.

One word of advice to the NYCAASA – if you see a domain name you like that’s unregistered, spend the $10 and reserve it before discussing it.   While most people wouldn’t do something to undermine an organization’s efforts, it would be in your best interest to secure all potential domain names (that are unregistered) before deciding.

Teaching About the Value of Domain Names

Elliot Silver
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7

I got together with some of my former colleagues a couple nights ago at a memorial party for a colleague who died suddenly last week. We were discussing the progress of my former group, and we started discussing the Internet strategy they have and where it’s headed.

They are in the process of launching a new stand alone product website (their first stand alone site), although they were only able to acquire domain names that are variations of the product’s name (for example MyProduct.com, ProductOnline.com, MyProductOnline.com…etc). I asked why they didn’t go out and buy the straight up Product name from its current owner, and they didn’t really have an answer other than the fact that it’s owned by someone else.

This got my mind turning.   Here is a group at a huge company that has seen tremendous growth, are about to launch a serious Internet campaign/website, yet they don’t really understand the value of domain names and what it would mean to own the Product.com domain name.   I assume many companies are in a similar position, and educating them is difficult.

I would imagine a numbers argument would be the way to educate them, showing that the Product.com domain gets a % of traffic (intended visitors) which could be lost if they don’t search to find the correct website.   Figuring out the lost business as a result of not owning the domain name should be the amount of money they could/would pay to acquire it.   However, once the site is launched, it’s unlikely that the owner would sell it, especially if he is fearful of a litigious response.

How do you educate people about the value of domain names?

Domain Assets Strong Despite Economy

Elliot Silver
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2

I don’t need to share any recent sales data to show that the economy is impacting domain values.   I think the bottom line is that good domain names still sell for high prices, and average to below-average domain names are difficult to sell these days.

One thing is certain though.   No matter how difficult the economy is, nor what happens to currency valuations and/or fluctuations, domain name assets are stronger than many other assets, and they are very similar to land and precious metals, all of which are limited and have intrinsic value.

Regardless of what happens with the economy, precious metals such as gold, silver and platinum will still have value. They can be used as bartering tools (if necessary) and they can be used just about anywhere in the world.   Likewise, the best real estate is the world will still remain valuable.   You won’t be able to make a ridiculously low offer for a piece of land on the water in Palm Beach any time soon or ever because there will always be someone there with a better offer – be it cash or cash equivalents.

Domain names can’t be lost (unless you forget to renew them), they are difficult to steal if you are careful, and good ones are valuable just about anywhere in the world you go.   The Internet is one thing that binds just about the entire world, and it isn’t going anywhere.

Sure, people may be struggling to survive financially and things may appear to be getting worse, but as far as I can see, the impact is somewhat isolated.   I think some people need to spend less time watching the news and more time focusing on how to improve their own economic conditions.  

Fear is as dangerous as what is feared.

Consider Alternate Spellings

Elliot Silver
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2

One thing I think about when evaluating domain names to purchase is the possibility that there are alternative spellings to the domain names – both accepted spellings and common typos. If the alternate spellings are common, I typically won’t buy these types of names, because there will often be confusion, and the last thing I want to do is develop a website and find that people accidentally navigate to the alternatively spelled domain name.

This is something I am especially cognizant about when the alternate spelling is commonly accepted as the proper spelling – or their is a commonly used abbreviation.   A quick example of this is a name like FortWorth.com and FtWorth.com.   I would have a difficult time paying 6 figures for either of these names, because there will always be confusion – especially when pitching businesses over the telephone.   I would find it annoying to have to explain, it’s “F-O-R-T Worth dot com” or visa versa.

If you do have the opportunity to buy a good domain name that has common misspellings (both accepted and unaccepted spellings), and you are gung ho about development, I would try my hardest to buy the misspellings as well and do a 301 redirect to the properly spelled domain name.   Once you begin to develop your website, you are going to increase the value of the typo, making it more expensive for you to acquire down the road.

This is one of the little things to consider before your development project.

Web TV: Microsoft Leading the Way

Elliot Silver
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12

It’s only a matter of time before our computers and televisions are completely integrated into a single unit, allowing us to surf online, watch television shows, and do work all from the same unit.   The lead story on CNN at the moment is about Web Television and how the Internet is slowly becoming a source for television shows.

I think it is interesting to note that Microsoft owns one of the category defining domain names for this in WebTV.com.   As I said earlier today, you need more than the domain name to build a business, but Microsoft would also seem to have a huge arsenal of technology to complement this domain name. Personally, I don’t know much about their current offering, but this could be a leading website in a few years.

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