iReport is a TM from CNN now and Rick cybersquatted it up to $750k!
Only because he had the domain prior to them creating that feature.
Well done? I doubt it.
eReport is worth $750 (I know it because I have sold eBroklyn recently)
That tells you how fair this was!
you seem a bit misguided and/or jealous. just my opinion.
cybersquatted? how so? are you a fool? he owned it long before they even thought it up. look up the term cybersquat and stop lumping everyone together.
well done on his part? of course. how could anyone here be so jaded or jealous to not understand the art of negotiation. does anyone here think they could've held out for $750K? doubtful. very doubtful. I'm speaking from experience, it is very hard to turn down substantial offers when others would've cashed out long ago... but the payoff is well worth it if you hold out till the end.
congrats to Rick and CNN. it obviously was a win/win deal for both parties. I hope Rick can ignore all the naysayers and jealous domainers. sad to see the industry turning on itself.
it makes me laugh when people call Rick and others "lucky"... when most of you share the same dream... that some end-user with deep pockets wants your brandable domain and is willing to pay top dollar.
and for those trying to grasp the "i" concept... or understand why CNN wanted this brand... do some research on "citizen journalism" and how revolutionary it is becoming and how most media companies are choosing to embrace it versus battle the juggernaut that is citizen media. plenty of VC dollars being poured into that arena.
Mr. Rhee...>>and for those trying to grasp the "i" concept... or understand why CNN wanted this brand... do some research on "citizen journalism" and how revolutionary it is becoming and how most media companies are choosing to embrace it versus battle the juggernaut that is citizen media. plenty of VC dollars being poured into that arena.
Mr.Rhee...right on in your analysis. This isn't about "e" or "i" names in general; it's about "citizen journalism".
Citizen journalism is a mandatory component that media companies must build in order to compete in the future.
I agree with both sides here. Rick was lucky that CNN knocked on his door for this domain in the first place because as .coms go in this price range it's unexceptional but he nailed the negotiations to get the price up to $750,000.
Selling a domain for a headline price is about reading what it is worth to a buyer and not just judging what it's worth outright. You don't just need balls the size of coconuts to turn down $500,000 for iReport.com, you need enough money in bank not to really need an extra $500,000 and presumably Rick was lucky enough to be in that position which is great.
I guess a bit of everything is required to pull off something like this - luck, money in the bank, negotiation skills etc etc. I say congratulations and can only imagine what a great feeling it must be. I regged Report.pro a month ago so grateful for the citizen journalism comments, that's good to know. I was considering letting Report.pro expire at the end of 2008 until I read this thread but it's a keeper now.
End Users will pay anything to get them. IReport is a link on CNN homepage.
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The reason it is "I" and not "E" or even "U", is because "I" instills a sense of involvement and personal ownership among the audience. It doesn't take a brain surgeon to realize that the major media outlets are losing their stranglehold as more and more alternatives surface on the web. People are flocking to sites like YouTube and stuff in order to stake their own claim in the media arena from the comfort of their own homes. CNN is just hoping to create a project that instills this same sense of viewer involvement. This type of action may not stave off the inevitable decline as more and more people turn to alternative sources, but it does give them a huge advantage over their competition, provided it's properly executed.
A simple understanding of connotations goes a long way. uReport.com is a decent domain, don't get me wrong. But when I say it... "you report".. I dont usually refer to myself as "you". So in the back of my mind, its as if "you" refers to someone else... But if I say "I report", I'm directly addressing myself and this somehow validates my own personal involvement and participation. And it sounds powerful! *I* Report!!!
Now one can argue that given this scenario, iTube would have been preferable to YouTube. However, given the timing and popularity of YouTube, the overall appeal of the service and "liberation" it provided, far outweighed any trivial play with words... Though the media networks don't have those same conditions going for them. They're losing ground fast and have to compete against the stigma of an outdated paradigm which they created. People are tired of being reported to and things are obviously changing.
So in my opinion, that "I" alone was worth about 500k of the total price if not a bit more.
