Buffer App, a start-up that provides a method of driving traffic and fan engagement on social media, has had a major domain upgrade.
Going from BufferApp.com to Buffer.com did not happen overnight; it was the culmination of work by company executives that worked hard to acquire the domain. The exchange appears to have occurred in mid February, but it was just now announced.
Overall, the process of acquiring Buffer.com from its previous owners lasted 624 days, comprising of 16 outgoing and 8 incoming emails, 34 phone calls and one final transaction via Escrow.com.
While the price was not disclosed in the otherwise detailed blog post by the Buffer App executives, everything points in the direction of a seven figure deal:
- Before the final round of negotiations, Buffer App had $844,386 in their bank account.
- The company received a $3.5 million investment on a $60 million valuation, thus increasing their cash reserves.
Unlike other stories of successful domain rebranding, Buffer App remained transparent towards the owner of Buffer.com, about who they are and what they were trying to achieve for their customer base with the new name.
For a detailed story, click here. Many thanks to Sahar Sarid for bringing this to our attention.
Good work. Thanks for this very interesting story on how startup look at domain names and upgrade.