Hipster is a fairly well-funded start up company that has received quite a bit of good publicity in tech circles. Until recently, the company was operating on the domain name, UseHipster.com, since Hipster.com was owned by another company.
In May of 2011, Hipster announced funding of $1 million, and I recommended that the company use some of this money to purchase the Hipster.com domain name. My belief was that as the company continues to grow and increase brand awareness, the price to acquire Hipster.com would grow as well.
Not surprisingly, the company had been trying to acquire the domain name for quite some time, and the effort finally paid off, as Hipster now owns Hipster.com.
According to company founder, Doug Ludlow, acquiring the domain name took quite some time. “Obtaining the domain was a 7 month process of going back and forth with the original owner. Lots of negotiation and discussion. In the end, we reached a combination of cash and stock that worked for both parties,” said Ludlow in an email to me. “Also, a little Pabst Blue Ribbon was thrown in for good measure :)”
The price and terms of the deal remain confidential.
The company is now forwarding UseHipster.com to Hipster.com. In addition, the company already uses the @hipster Twitter account. Congratulations are in order for Ludlow and his Hipster team. I think the acquisition of the domain name now will pay big dividends.