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Countdown to the millions: Rick Schwartz announces sale of Property.com and Properties.com

It’s insane but none has picked up on this story, except for sharp-eyed Guy who runs Stardom.co.uk

Guy noticed a tweet by Rick Schwartz sent out on July 1st, that states:

Property.com and Properties.com agreement to sell at $4MM Cash plus Equity Stake in New Company. Set to close within 60 days.

You can read a great analysis by Guy at his blog, Stardom.co.uk


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Comments

4 Responses to “Countdown to the millions: Rick Schwartz announces sale of Property.com and Properties.com”
  1. BullS says:

    When Domain Gang is sold, then it is big news

  2. Anunt says:

    Congratulations Rick!

    I would have sold property.com + properties.com for around $2M…but you got $4M + equity stake…wow…congrats…you are a domain king!

    Last year, you sold flowers.mobi for a tax loss…and i bought it…

    Which domain name are you going to sell for a loss this year at TRAFFIC Show…i’m ready to buy again…LOL

    or you can just let everyone enter your TRAFFIC Show for FREE, no cover charge…and write this off as a loss.

    The choice is yours!

    Have A Happy July 4th…you made some real fireworks!

    Congrats again!

  3. Ted says:

    This is all well and good but most of the time things aren’t what they seem with his deals. For instance, widgets.com was supposed to be a huge sale and that deal fell apart. Property.com already went in a supposed huge sale which also fell apart. Everyone raves about candy.com at $3m but that wasn’t even $3m in cash. It was a note which the buyers don’t have to pay for years and that deal could fall apart too. I wonder if he has actually done any large cash deals (in the millions). I seriously doubt it.

  4. Anunt says:

    I agree with you Ted.

    He probably makes more money when deals fall apart…he gets to keep the down payment and also gets the domain name back….its a win-win situation for him.

    this is a much better way to make much more money than parking domains…

    keep the downpayment…then get the domain name back…

    this is a great solution to the depressed parking revenue problem that many are having…

    congrats Rick in finding a great way to make money in a down market.

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