When the numeric domain 37.com was sold for almost $2 million dollars to a Chinese game maker, as reported by DNJournal, many gasped in astonishment over the size of the investment.
While $2 big ones is a drop in the bucket for the buyer, 37Wan, some new information regarding the financials of the sale has emerged.
Guoliang ‘George’ Hong, who owns such gems as Guta.com and Mama.com, pointed out that the buyers essentially got the domain for free:
“In the morning 37wan announced the purchase of 37.com. In the same day afternoon. The stock price of company, which owns 60% share of 37wan and listed in Shanghai rose by 10 per cent, the maximum allowed by ShangHai exchange rules. so they got the domain name for free and much more.”
In other words: by spending $2 million dollars to acquire 37.com, the net worth of 37Wan increased by more than that amount, as their stock rose – essentially, they got 37.com for free. 😀
A remarkable story – and we don’t use the term very often. Or maybe, we do – it makes no difference to the news whatsoever!
This post is 100% true!
