For a number of years, Escrow.com has been the biggest and best (in my opinion) escrow service for domain names. The company has a stellar reputation and is recommended by Ebay and Cars.com for escrow services. Last year, Escrow.com announced that it surpassed $1.5 billion in transactions, and much of the total comes from domain name sales facilitated on its platform.
This week, two new domain name escrow companies opened for business in advance of the NamesCon conference. Both companies were launched by individuals who are well known in the domain space – Ammar Kubba and Andee Hill.
Agreed Escrow, Inc. is a subsidiary of Thought Convergence, the company that operates TrafficZ and Aftermarket.com, and is a sister company of DomainTools. Domain industry veteran Ammar Kubba is the CEO of Agreed, and according to its website, “Agreed was granted its license from the California Department of Business Oversight in October 2012.”
Escrow Hill Limited was launched by former Andee Hill, the former Director of Business Development at Escrow.com. Two other former Escrow.com employees, Ryan Bogue and Donald Hendrickson, were brought on board at the company. According to the press release, “Escrow Hill Limited is an internationally licensed escrow provider. Our license involves government oversight, independent audits and employee background checks very similar to the state of California. The license applies to all currency accounts, not just USD.”
Both of these new escrow services offer a variety of escrow options for domain investors, including leases and payment plans. The companies also offer different currency options.
One of the challenges both companies face is the recognition and trust outside of the domain investment space. Ammar and Andee have built goodwill within the domain space, but they are going to have to build trust outside of the space. I have always liked that I can share this page about Escrow.com on my corporate website to show people who haven’t used an escrow service that the company is reputable, and these new companies will need to build up their reputations and recognition.
I consider Ammar and Andee to be friends, and I wish them all the best with their new ventures.