Internet.com was recently put up for auction, but the auction process did not result in the sale of the domain name. According to a March 22nd update on the Internet.com landing page, there were quite a few parties interested in acquiring the domain name but a deal was not reached.
Here’s an excerpt about the number of interested parties extracted from Internet.com:
9 statements of interest were received in excess of the $35M trigger price and following conversations with all valid bidders, the format of the auction (as outlined on our website) was problematic for their corporate governance processes.
7 bids were either invalid (ie no evidence of sufficient funds) or below the minimum trigger price.
Informal feedback from other potential corporate bidders was that the time-frame for the auction process was too short for their (normally 6 months) budget cycle and Board approval; suggesting pushing the closing date would help them justify participation, including substantial offers for the valuable INTERNET.com name.
Because a deal was not reached during the auction process, the seller of Internet.com has opted to “suspend the auction process” and is “currently engaged in conversations with all highly motivated parties.”
If you have an interest in buying Internet.com, it would appear to still be on the market.
It will be Google.com – look they own Planet.com – and yes – even they are buyers of two of my domains thru NDA.
Years ago I met the guy that owned World.com at a conference. All those type domains will be owned by the Google types. But no matter how many billions they have – they have BODs and they can take a few annual meetings – maybe more.
In other words, all these fancy words for a deal just wasn’t done. Their statement is a bunch of sugarcoating.
I still say it was brilliant, but having such a short time frame for parties like that not so much.
Why not just do a do-over with a better time range…
Such BS, 9 statement of interest and no bids. They need to lower the price dramatically. Lowish 7 figs.