Would you donate your premium domain?
The donation of Gay.com, a multi-million dollar domain to the Los Angeles LGBT Center, could be a milestone in domain investing practices.
Beyond giving a premium domain asset to a worthy cause, domainers looking to achieve a tax break through donation might examine this donation option.
Valued at $6.9 million dollars by its donors, VS Media, Gay.com was acquired last year for an undisclosed amount.
As far as we know, Gay.com was never priced as “sold” at any time through its past history, and yet it this is the 4th time it changed hands.
According to Wikipedia:
“Gay.com was founded by Mark Elderkin in 1994 and launched with a Java-based chat system in 1996. Gay.com’s parent company acquired PlanetOut in 2001. In October 2008 the company relaunched gay.com., updating the visual style of the site and replacing the former Java-based chat system. Technical problems caused by the upgrade led to service interruptions and lags. In an open letter from PlanetOut management, “hardware configurations and software code” were cited as culprits. Many users asked the service to revert to its former system. The formerly solid user base has eroded since the relaunch. In October 2009, Here Media Inc. bought gay.com from PlanetOut Inc. In 2016, gay.com was handed over to VS Media Inc.”
But the most important question is, would you do the same?
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The only/sole GOOD CAUSE I know is “Money in my pocket”.
It’s a nice gesture. Though, I think the ones most inclined to donate a 3 letter premium like that would be those looking for the tax write-off and not anyone that needs the liquidation cash to feed their family or get out of debt.