You don’t always see startup founders discussing how much they spent to acquire their domain name and why they felt it was necessary to do so.
Will Nitze, Founder of IQBAR, shared that his company acquired its brand match IQBAR.com domain name for $26,250. This was an upgrade from the call to action EatIQBAR.com domain name it had used since inception. IQBar.com was created in 2007, and it appears to have been owned by a business that owns many domain names.
In a LinkedIn post last week, Will shared the acquisition price and insight about why he felt it was necessary to acquire this domain name. In short, the call to action word “Eat” was no longer fully descriptive of the business, and customers began adding it to the branding. In addition, the brand match .com was listed for sale, so continued usage of the call to action brand .com made them look less serious.
While the acquisition price may have been on the high side for that domain name, I think it was the right move to make.
