Back in 2007, I wrote an article about the Pharmacy.com domain name, which had been put up for sale with a reported asking price in the 8 figure range. Unfortunately, the Red Herring article I based my report on is no longer online. I just learned that Pharmacy.com domain name was acquired by Walgreens last year, although the domain name is not being used at the moment.
To learn more information about this deal, I reached out to Josh Bourne, Managing Partner of Fairwinds Partners, the company that had been tapped to broker Pharmacy.com back in 2007. Bourne was kind enough to provide some details, although the price and other details are subject to a non-disclosure agreement and remain confidential.
“The company we sold pharmacy.com to the first time came back to us about 4 years later and asked if we could assist with divesting it,” said Bourne. “After a fairly routine sales cycle, we brokered pharmacy.com to the Walgreen Company in 2013.”
Bourne went on to clarify that Fairwinds Partners was not technically the broker on this deal. Fairwinds set up a separate company called DigitalDNA, and since 2008, DigitalDNA has been the brokerage division in the Fairwinds Partners family of companies.
Owning Pharmacy.com is a big win for Walgreens, no matter what they end up doing with it. In the pharmacy business, competition is intense, and a domain name like Pharmacy.com can be used for a separate brand or it can act as companion domain name to Walgreen’s core business. Perhaps even more importantly with this acquisition, Walgreens has prevented one of its major competitors from operating it and also prevented an upstart company from getting involved in the space.
Kudos to the team at DigitalDNA for helping to close out a deal with one of the major brands after several years.
Thanks to George Kirikos for the tip via Twitter.