Successful completion of two major internet domain name transactions announced
InnovationHQ Inc, in conjunction with DnStrategy.com and Logicbank LLC announced Tuesday two blockbuster domain acquisitions with the purchase of Earth.com for $800,000 USD and Sharks.com for $140,000 USD. The transactions were completed using Escrow.com and involved two different private sellers.
Cameron Johnson of InnovationHQ.com and DnStrategy.com, who acquired the domains in conjunction with Seraphim Marcopoulos of Logicbank LLC, sees this double acquisition as a fantastic way to end the year, “We’re thrilled to grab these two terrific premium names! The road to actually landing these domains was filled with high stakes drama, and Seraphim was instrumental in helping us secure them.”
InnovationHQ Inc. holds more than 12,000 generic domain names that generate in excess of five million page views per month. DnStrategy and Logicbank often work closely in securing and brokering top flight domains, as well as financing domain transactions.
The domain name business took off in 2005, not just with half a dozen sales in and around the $1,000,000 USD mark, but with widespread coverage from the mainstream media, with feature articles in The Wall Street Journal, NY Times, and Business 2.0. An increasing number of large scale funds and private consortiums moved into the space in 2005, and the trend is likely to only accelerate in the coming year.
Brandon Abbey, the Managing Director of escrow.com, has seen an increase in big-ticket domain transactions, as well as an overall increase in company revenue from processing domain escrows. “The domain market is exploding, and we are there to act as a trusted third party escrow service that can handle large transactions with both speed and safety. In the last year, our revenue from domain escrows has increased substantially. InnovationHQ Inc., DnStrategy.com and Logicbank LLC are the type of clients that we’re working to serve more efficiently.”
