James Iles

Blockchain Company Monkey Acquires Monkey.com for $500,000

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By James Iles, Aug 21, 2017
  1. James Iles

    James Iles NamePros Writer PRO Business Account VIP Trusted Blogger

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    Blockchain development and news and information service company Monkey has confirmed the acquisition of the domain name Monkey.com for a fee of $500,000. The Singapore-based company is lead by entrepreneur Daniel Mark Harrison, who initially launched the company using the domain name Monkey.capital before upgrading to Monkey.com.

    Recently, Monkey posted a link on Monkey.capital announcing the forthcoming move from Monkey.capital to Monkey.com, a domain which was sold by an American company that had owned the domain since 1994.

    In a statement to NamePros, Monkey CEO Daniel Mark Harrison said:

    According to Daniel, the sale consisted of a $400,000 cash amount paid in instalments, with $100,000 paid in the form of COEVAL (COE), which is Monkey's own cryptocurrency.

    As of writing, Monkey.com still resolves to the seller's website, but a switch over is due shortly.

    It will be fascinating to see what Daniel and his team create on the Monkey.com domain name. We will be watching with interest. To follow Monkey's progress, you can follow them on Twitter or Facebook.


    Thanks to NamePros member @55Domains for the tip.
     
    Last edited: Aug 21, 2017
    The views expressed on this page by users and staff are their own, not those of NamePros.
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  4. James Iles

    About The Author — James Iles

    Writer for NamePros.com, domain name investor and broker. For all inquiries relating to stories and interviews, please email: [email protected]

    This is James Iles's 432nd blog post on NamePros. View all blog posts

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  5. Comments (64)

  6. Haykay2005

    Haykay2005 Active Member VIP

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    Sweet deal for both parties
     
  7. DnEbook

    DnEbook DnEbook.Com VIP ★★★★★★★★★★

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    One of the best names .... for anything!
     
  8. Gaurav74

    Gaurav74 Established Member

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    Another good news for crypto currency and blockchain domains.
     
  9. SamDam

    SamDam Established Member

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    Thanks @James Iles , for the information, congrats! for both sides
     
  10. kollam003

    kollam003 Business Member Business Account

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    Wonderful move by the founders.
     
  11. freeredcaz

    freeredcaz New Member

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    Great news to have this confirmed. What a great domain name, and the perfect platform for the MC group. Seems everyone is happy, the definition of a good deal!
     
  12. Embrand

    Embrand Active Member VIP

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    Nice. Seems like a good deal for both parties.
     
  13. Jasonn

    Jasonn Active Member VIP ★★★★★★★★★★

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    way under priced and the seller was dumb to accept 100k of an unknown crytpo...
     
  14. hookbox

    hookbox Active Member VIP

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    I don't think there are many companies that would pay half a million dollars for Monkey.com. I think the seller did exceptionally well on this one.
     
  15. Acroplex

    Acroplex Top Member DomainGang.com PRO VIP ★★★★★★★★★★

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    Rick Schwartz would laugh at the offer and would tell them to go spank it. :-D
     
  16. joinwhatever

    joinwhatever Established Member

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    Yes. I agree with Acroplex, I believe they left money on the table, however, got a good deal for the domain name. How much money did they leave? About another $250K -$500K.
     
  17. -EM-

    -EM- Top Member VIP ★★★★★★★★★★

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    That would be about right.
     
  18. Acroplex

    Acroplex Top Member DomainGang.com PRO VIP ★★★★★★★★★★

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    There are plenty of brands with "monkey" in their name. Google the keyword, and the dot .cool gTLD is the top matching result. :-O

    Also, it's not really $500k when $100k of it is in tokens. This approach is gaining traction recently, merely because there is no associated cost to issue these pseudo coins.
     
  19. hookbox

    hookbox Active Member VIP

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    There may be plenty of brands with Monkey in their name but not many that will pay even close to 500 grand. I bet this is the first real offer this name has ever received and probably why the seller agreed to the creative financing.
     
  20. Furquah

    Furquah Established Member

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    Crypto market trending every where, Cong to seller.
     
  21. Acroplex

    Acroplex Top Member DomainGang.com PRO VIP ★★★★★★★★★★

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    How do you know that? And the monkey is a very important animal in the Chinese and Japanese cultures.

    To me, the sale signifies a successful pitch for extra money via the tokens, but even then, they shortchanged the seller. They could have given them 1 million in monkey tokens, it'd make little difference.
     
  22. Adam27

    Adam27 Cryptography.us For Sale! Business Account VIP

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    Seller likely got equity too.
     
  23. Acroplex

    Acroplex Top Member DomainGang.com PRO VIP ★★★★★★★★★★

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  24. 1Darko

    1Darko Established Member

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    Very good name! Thanks for this info, James!
     
  25. ikhub

    ikhub Active Member VIP

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    Expected a more giant leap, in terms of price, from monkey.com
    Accepting 25 percent in an altcoin is perhaps another leap to big bananas in coming years for the monkey.
     
  26. DomainVP

    DomainVP Domain Expert Business Account VIP

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    Agreed, but when that $100k in coins becomes $3.5MM after an ICO then it almost reverses every "left money on the table" view of this transaction.

    I agree that $500k was a low price for this, however I think the $100k in coins sold smartly makes this deal a big winner at much more.
     
  27. Acroplex

    Acroplex Top Member DomainGang.com PRO VIP ★★★★★★★★★★

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    I'd take $1 million USD today than $500k + ICO tokens tomorrow. Other than BTC, every single cryptocurrency is like Monopoly money: worth something only while you play the game.
     
  28. Keith

    Keith Top Member VIP ★★★★★★★★★★

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    That's the view of someone who doesn't know what the game is. The crypto market is only going up, not down. There are real companies behind each "coin" which offer stability and technology worth investing in. To think otherwise is ignorant.

    In this case, the seller is sitting on $580,000 worth of coins which will easily double in value. Extremely smart play on his/her part!
     
  29. Keith

    Keith Top Member VIP ★★★★★★★★★★

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    Bah it won't let me edit. I meant the value of the coins will easily double, the quantity they own is based at the price coe was at when they were issued. Great deal for the seller!
     
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