I have been aggressively trying to buy more great one word .com domain names to augment my portfolio. I have been kicking the tires at quite a few companies where I think domain names aren’t being optimally used or something else has led me to believe I could acquire a domain name for the right offer. Buying domain names from large companies is particularly difficult.
Case in point, I got in touch with the right contact at a very large company a few weeks ago. I made a few offers, and our discussion culminated with a $100,000 offer to buy one of their domain names. I also asked if a decision could be made this week since I am discussing many domain name purchases. She asked to speak on the phone and we discussed why we wouldn’t get a deal done.
In addition to the multiple approval channels a deal would have to go through at the company, she mentioned that she wouldn’t even know where to send the money if we reached a deal. The domain name appears to be owned by a subsidiary company that is wholly owned by the main company with whom I was dealing. It seems like the main company owns and manages the intellectual property (domain names, trademarks, websites…etc.) on behalf of the other companies, and there are many divisions at the main company.
I have encountered similar responses before. I have also dealt with people at large companies who have zero motivation to sell a domain name. They either have no P&L responsibility or the domain name wouldn’t fall under the P&L they manage. Put simply, a domain name negotiation and transaction would be a time suck for them but have no benefit to their job and a marginal benefit at best to the company.
There are many large companies that own fantastic domain names that are either not being used or are under utilized. There are many challenges to buying a domain name from a large company. In many cases, you will need to offer much more than the domain name is worth to even elicit a response.