In 2014, the Teamwork.com domain name sold for €500,000. The sale, which is recorded at $675,000 because of the exchange rate, is listed as the 14th largest sale of the year in DNJournal’s sale report for 2014. Teamwork.com is a great domain name, and the $675,000 USD price tag seems like a fair deal for both parties.
According to an article in the Irish Times, the buyer of the domain name, a company called Teamwork, is very happy with its acquisition. In fact, buying Teamwork.com was cited as one of the two most pivotal moments for the young company so far. Here’s the interview question and answer shared by the founders of the company in the Irish Times article:
“What moment/deal would you cite as the game-changer or turning point for the company?
It’s a coin toss between two events. The first is when we used every penny we had to acquire the domain name Teamwork.com for €500,000. It was a huge gamble but it paid off quickly.
The second event that stands out as a growth catalyst was the day we received a phone call from Disney. They told us they had been using Teamwork Projects for a while in stealth and they loved it. They wanted an enterprise version with extra security features. We delivered and the Disney account helped us build out our enterprise offering.”
The interview was done with Teamwork co-founders Peter Coppinger and Daniel Mackey who were named EY Entrepreneur of the Year finalists. According to its founders, the company has achieved over $20 million in sales, is profitable, and it is debt-free.
When the deal for Teamwork.com was struck, Silicon Republic wrote a detailed article about the acquisition. After the acquisition, the company rebranded from TeamworkPM to Teamwork. At the time, the company told the Silicon Republic that the acquisition of the Teamwork.com domain name was a “bold statement of intent.” It sure seems that the company’s boldness has paid off.