When news first broke that a major Australian domain had been sold for billions, many expected yet another landmark digital property deal in the domain name market.
After all, Australia has been the birthplace of some remarkable online brands, and the idea of a premium web address changing hands for close to two billion dollars certainly turns heads.
But this isn’t a story about a .com.au or even an one word .com commanding a record price. Instead, it’s the tale of Domain, a household name in Australia as the country’s leading property listings platform; now officially acquired in a blockbuster move by US real estate giant CoStar Group.
On Wednesday, Arlington County-based CoStar Group announced that it has completed its $1.9 billion acquisition of Domain, the Sydney-headquartered real estate data and analytics platform.
Domain’s reach is extensive: the company’s brands — including Domain, Allhomes, Commercial Real Estate, Domain Insight and Pricefinder — attract an average of 7 million Australians each month, according to CoStar.
So no, this wasn’t a record .com.au changing hands; it was Domain the property platform. Still, at $1.9 billion, CoStar just landed the biggest Australian Domain of them all. 😀
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