Dan.com Holding Up LTO Payouts

Elliot Silver
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13

On July 13th, Afternic announced it would begin allowing sellers to implement a Lease to Own (LTO) offer for domain names. This meant buyers shopping for domain names on GoDaddy or GoDaddy’s network would be able to purchase a domain name using monthly installments. This was an expected update following GoDaddy’s acquisition of Dan.com, a platform that pioneered the automated domain name LTO sales.

In conjunction with the Afternic news shared on the 13th, Dan.com also shared some platform and product updates. Update #9 is one I completely overlooked but could have some negative consequences to some sellers who rely on monthly LTO payments to fund business activities. This update covers payments, and apparently, payout timing.

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John Berryhill Highlights Risks in GoDaddy LTO TOS

Elliot Silver
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9

A week ago, I shared how I am cautious with offering a Lease to Own option on some of my domain names. I do not want to put my valuable domain names at risk by allowing buyers to pay for them over a long period of time while potentially putting them at risk.

With GoDaddy now offering LTO to some buyers and a roll-out to all buyers expected soon, IP attorney John Berryhill shared some commentary on Twitter regarding the risks for sellers based on the GoDaddy LTO Terms of Service (TOS):

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Here’s How GoDaddy LTO Looks to Buyers

Elliot Silver
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2

GoDaddy announced it would allow sellers to give buyers the opportunity to choose a lease to own option for domain names listed for sale on its Afternic platform. The company gave sellers a lead time to implement the LTO option before offering it to customers searching to buy domain names.

Yesterday afternoon, the Afternic X / Twitter account shared that the LTO option is being rolled out to select buyers on GoDaddy’s website. I asked Paul Nicks, President of Domains at GoDaddy, if he can share how the LTO offer is presented to prospective buyers who search for a domain name.

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Wonder if GoDaddy Would Sell X.CO

Elliot Silver
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4

By now, I am sure you heard that Twitter is becoming X. Elon Musk, who bought X.com, is now forwarding X.com to the Twitter website. I would not be surprised if that flips at some point and X.com becomes the home for the matching X brand.

As you may recall, GoDaddy previously operated the X.CO domain name, where it served as a url shortener. In 2017, GoDaddy sunsetted the X.CO shortener, and it currently forwards to GoDaddy’s home page.

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Where I am Cautious with LTO

Elliot Silver
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6

GoDaddy is set to introduce a Lease to Own purchase option for buyers of aftermarket domain names listed for sale via Afternic. This option has been one of the unique points of differentiation for sellers on Dan.com, a company acquired by GoDaddy last year.

While I offer LTO on most of my domain names I have listed on Dan, I am cautious about it with others because of the potential damage highlighted by Brad Mugford:

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GoDaddy to Offer Lease to Own via Afternic

Elliot Silver
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6

One of the most helpful offerings from Dan.com is the easy to use Lease to Own (LTO) purchase option. Domain name buyers who do not want to spend the money to acquire a domain name at the time of the sale can opt to pay for it over a period of time when offered by the seller.

Dan.com was acquired by GoDaddy last year, and the LTO option is now coming to Afternic. This means domain name buyers shopping on GoDaddy will be given the ability to purchase a domain name over a period of time, if leasing is offered by the seller of the domain name.

Afternic posted a tweet about the new offering along with an article that covers how sellers will be able to add the LTO option to their domain names listed for sale via Afternic:

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