CancerInsurance.com sold for 7 figures.
A seven figure sale for the domain CancerInsurance.com was unveiled today, by domain investor and financial researcher, George Kirikos.
According to the financial reports of Tranzact, they acquired CancerInsurance.com last year, for a deal amounting to $3.1 million dollars, of which $1.1 million dollars was cash.
However, there is a contingency clause in that same statement, which according to George Kirikos might bring the total amount paid for the domain to a staggering $7.9 million dollars:
“On November 6, 2015, Tranzact acquired the domain name CancerInsurance.com for a purchase price of $3.1 million, which is included in other intangible assets.
The purchase price included cash of $1.1 million and a liability of $2.0 million for contingent consideration that is payable if EBITDA exceeds amounts defined in the purchase agreement between November 6, 2016 and May 6, 2018.
The maximum amount of the contingent consideration is $6.8 million”
What exactly does Tranzact do?
According to their web site:
“TRANZACT is the premier marketplace for the distribution of direct-to-consumer Insurance products, reaching over 150 million consumers a week. TRANZACT has two business models: a brand focused model and a consumer facing one. For our brand model, we support large insurance companies in building out their own direct-to-consumer distribution capabilities. For our consumer-facing model, we build vertically focused platforms that allow consumers to shop and compare different companies to best meet their insurance needs.”
It’s interesting that Tranzact operates from a dot .net domain name; the dot .com is taken by a transportation services company.
Many thanks to George Kirikos for uncovering yet another large domain sale! 😀
