Domain investor George Kirikos drilled down data deciphering domain deals, once again!
The sale of Rocket.com (reg: 1991) is now officially priced at $14 million dollars and zero cents net, although it might have been a larger payment; the astronomical 8-figure domain sale’s worth could have been above that number.
Kirikos perused data presented in the domain seller’s recent financial filings, a technique that he mastered ever since SEC opened the gates for full text searches. In that filing, on page 29, Kirikos located the magic sales number in the following paragraph:
“For the quarter and three quarters ended September 27, 2024, includes $14 million of income net of related expenses from a domain name sale.”
The sale of Rocket.com now ranks as the 4th most expensive domain sale ever, as far as documented deals go.
With this $14 million dollar sale, Rocket.com surpassed Sex.com ($13 million) while trailing the sales of Voice.com ($30 million,) 360.com ($ 17 million,) and NFTs.com ($15 million.)
George Kirikos believes that the domain sold for “far too little,” a sentiment he based on the market cap of the buyer, a large financial institution.
On the other hand, the deal’s chief broker, Andrew Miller of Hilco Digital Assets, is still bound by the terms of the exchange and he declined to confirm either the buyer or the amount involved.
That being said, Miller noted that while he has led several 8-figure sales of domain names in the past 3 years and six of them in total, he believes that market cap alone does not drive the final price of a domain name.
Said Andrew Miller:
“[…] just because a company has a massive market cap or cash balance sheet (for example, Google, Amazon, Facebook or L3Harris )does not mean they will pay or receive an “on demand” price for the asset. They did not get to that market cap that way, that is for sure. It is easy for someone who has probably never been at that size of a table to “monday morning QB” that the price was too low. I cannot tell you how many times a client of this size has drawn a line in the sand, and is willing to walk away.”
The fine details of the deal most definitely remain sealed but there’s no doubt about the $14 million dollar price the seller netted from the sale of the domain Rocket.com!
Once again, kudos to George Kirikos for sharing important metrics about a domain sale uncovered by utilizing an undisputed research methodology.
