Valley National Bancorp is a publicly traded financial institution (VLY on the New York Stock Exchange) with a market capitalization of nearly $4 Billion. The company operates Valley National Bank, a consumer facing bank that uses the three word ValleyNationalBank.com domain name for its website. Based on current Whois records, the bank appears to have recently acquired the high value Valley.com domain name.
After seeing the registrant information change to Valley National Bank on the Valley.com Whois records (courtesy of the Domain Monitor Alert tool from DomainTools), I visited the domain name to see if the bank is using it yet. The domain name is not yet being used by the bank, and I was forwarded to an offer form hosted on the Lumis Domain Brokerage website. In looking through my email records, I see that Lumis was brokering the sale of Valley.com. When I had inquired about the price in January of this year, I was told it would cost “mid six figures.”
I reached out to Hobi Michalec and Slade Michalec, co-owners of Lumis, to see if they could confirm that their company brokered the deal. I also asked if they could share the purchase price, assuming their company brokered the sale of the domain name. Hobi confirmed the company brokered the domain name on behalf of the seller. The acquisition price is unable to be shared though.
Valley.com is a great acquisition for Valley National Bank. It shortens the url for clients, making it less likely for typographical errors or phishing/cybersquatting attempts using misspellings. The only possible comparable domain name for the company would be VNB.com, but that domain name is owned by Virginia National Bank and most likely would not be available to purchase.