It’s insane but none has picked up on this story, except for sharp-eyed Guy who runs Stardom.co.uk
Guy noticed a tweet by Rick Schwartz sent out on July 1st, that states:
Property.com and Properties.com agreement to sell at $4MM Cash plus Equity Stake in New Company. Set to close within 60 days.
You can read a great analysis by Guy at his blog, Stardom.co.uk
When Domain Gang is sold, then it is big news
Congratulations Rick!
I would have sold property.com + properties.com for around $2M…but you got $4M + equity stake…wow…congrats…you are a domain king!
Last year, you sold flowers.mobi for a tax loss…and i bought it…
Which domain name are you going to sell for a loss this year at TRAFFIC Show…i’m ready to buy again…LOL
or you can just let everyone enter your TRAFFIC Show for FREE, no cover charge…and write this off as a loss.
The choice is yours!
Have A Happy July 4th…you made some real fireworks!
Congrats again!
This is all well and good but most of the time things aren’t what they seem with his deals. For instance, widgets.com was supposed to be a huge sale and that deal fell apart. Property.com already went in a supposed huge sale which also fell apart. Everyone raves about candy.com at $3m but that wasn’t even $3m in cash. It was a note which the buyers don’t have to pay for years and that deal could fall apart too. I wonder if he has actually done any large cash deals (in the millions). I seriously doubt it.
I agree with you Ted.
He probably makes more money when deals fall apart…he gets to keep the down payment and also gets the domain name back….its a win-win situation for him.
this is a much better way to make much more money than parking domains…
keep the downpayment…then get the domain name back…
this is a great solution to the depressed parking revenue problem that many are having…
congrats Rick in finding a great way to make money in a down market.