IT.com, an ultra-premium two letter domain registered in 1992, has been sold. Brokered by domain broker, James Booth, this remarkable LL .com changed hands for a massive $3.8 million dollars. Source: DNJournal.
The buyer is Intis Telecom, a British telecom company that also operates from IT.co.uk. IT stands for “information technology” among other acronyms; it’s the most popular one, for sure.
According to their web lander, Intis Telecom plans to use IT.com as a domain Registry that allocates *.it.com domains, beginning November 1st.
Clearly a purchase with a plan and a financial cushion that an established telecommunications company can provide. We’ll be checking IT.com on 11/1/21 for sure.
The seller appears to be Mr. Mark Cordover, former CEO and founder of IT.com. According to his bio:
I have had two passions in my career: financial markets and technology. I started a hedge fund before they were cool, doing “algo” trading before it was invented. By accident I helped fund the first Internet Service Provider.
But I learned from the experience, and then financed the first company to do customer service on the Web, and also invested in the first company to see the demise of old fashioned “client-server” architecture.
Congratulations to James Booth for scoring such a massive domain sale!
It’s an odd business model to only sell sub-domains (I mean, “third-level” domains) and hope to recoup $3.8 million. Hardly anyone is flocking to the ngTLDs and they believe they can sell enough it.com domains that are prone to typos of keyword+it.com domains? I guess there really is something to sell to anyone. If you look at their presentation, half of the money would come back if they are able to sell all 4000 of their allotted premium domains for the $500 price tag, which is the model ngTLDs are using with many still available (unsure if that’d make them break even in the 2nd year since they don’t mention premium renewals). Congrats on the sale, but not liking the business model of the purchaser and wondering where they got their funding from cause I have a business plan for them! 🙂
Same business model used by us.com, centralnic.com with better PR.
Being in the high tech industry , IT is also known as Idiot Tech.