Rob Monster, the serial entrepreneur and venture capital angel investor behind Monster Venture Partners is looking to acquire more great generic domain names to turn into businesses. The company is raising capital in order to make these strategic investments. According to a blog post on Seattle Post Intelligencer,
Monster will continue with the firm’s strategy, which is rather unique in the venture business. The basic concept is to acquire compelling domain names — such as Patents.com or Wifi.com — and then recruit experienced managers to build new businesses around those sites.
With the new capital, Monster says they plan to acquire more domain names “that can be incubated into great companies.”
Recently, Monster Venture Partners and Castello Cities Internet Network announced a partnership where Monster’s company would work with CCIN to develop Traveler.com. By investing in successful start-up companies at their early stage, Monster hopes to emulate Berkshire Hathaway’s strategy of investing in successful companies from inception.
There is no doubt that there are some good domain names on the marker, but the challenge is finding the right domain name at the right price, with the ability to implement a winning business plan executed by an experienced management team. It is going to be interesting following the success of Rob Monster as his company’s investment portfolio grows.