James Iles

Cryptocurrency Exchange ShapeShift Upgrades to ShapeShift.com

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By James Iles, Sep 13, 2017
  1. James Iles

    James Iles NamePros Writer PRO Business Account VIP Trusted Blogger

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    Recently we brought you the news that cryptocurrency firm Monkey Capital acquired the Monkey.com domain for a deal worth $500,000 in cash and cryptocurrency. Today, we're able to bring you the news that leading cryptocurrency exchange ShapeShift has acquired the ShapeShift.com domain name.

    Ever since Erik Vorhees founded the company in 2014, ShapeShift has used the ShapeShift.io domain name, with the ShapeShift.com domain name being used by a pilates studio in California.

    shapeshift.jpg
    ShapeShift's Logo

    After three years using the ShapeShift.io domain, the company has managed to upgrade the name, with ShapeShift.com moving from Network Solutions to GoDaddy under privacy protection recently.

    The news of ShapeShift's acquisition was confirmed to us by CEO Erik Vorhees, who also revealed that the company paid around $25,000 to buy the .COM domain.

    ShapeShift is one of the largest digital asset exchanges with over thirteen thousand transactions being processed within the past twenty-four hours. The company has raised a total of $12.79 million in funding, with a series A funding round in March 2017 bringing in $10.4 million.

    As of writing, ShapeShift.com doesn't resolve to a web page, but it is likely that the company will either forward ShapeShift.com to ShapeShift.io or switch entirely to ShapeShift.com in the future.

    Congratulations to ShapeShift on acquiring ShapeShift.com.
     
    Last edited: Sep 13, 2017
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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 442nd blog post on NamePros. View all blog posts

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  5. Comments (43)

  6. Matrix1976

    Matrix1976 Business Member Business Account ★★★★★★★★★★

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  7. Aspiring Billionaire

    Aspiring Billionaire Established Member

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    Agreed, but all's good if everyone's happy in the end.
     
  8. AbdulBasit.com

    AbdulBasit.com AbdulBasit.com AbdulBasit.com PRO VIP ★★★★★★★★★★

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  9. dande

    dande Established Member

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    Bad deal for seller. Great deal for buyer. It's obvious the domain owner is either completely uninformed or just happy making a bad deal
     
  10. Mahouni

    Mahouni Established Member ★★★★★★★★★★

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    Ok deal and fair. Not everybody has to price gouge like mike mann etc. and I'm sure Erik is aware of domains and their pricing. Funny fact I hired him to do copywriting 10 years ago on odesk (now upwork). Now he's a crypto multi-millionaire haha
     
  11. Dezideriu

    Dezideriu Established Member

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    Hmm lucky guy though
     
  12. Koosah

    Koosah Established Member

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    I would have paid more than 25k as a domain investment.. crazy cheap!
     
  13. JB Lions

    JB Lions Business Member Business Account VIP

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    I'm probably in the minority on this one but I think it was decent sale for the seller. How many end users are there for the keyword shapeshift that could pay more than 25k?
     
  14. johname

    johname Take that to LaBANC VIP ★★★★★★★★★★

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    A big thing here was if the pilates studio in California is a successful and still in business company. If so, then it would produce at least a liveable amount of money. And it would be super obvious who wanted the domain. With both of those in mind, the sale for 25k would be laughable.

    On the other hand if the company was barely making money or losing money.. just taking an blind offer could be appealing
     
  15. dande

    dande Established Member

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    I don't think you need too many end users to make a great sale. What other many users are you looking for when you have a company that have raised over $12m in funding and processing over 15,000 transactions daily?
     
  16. JB Lions

    JB Lions Business Member Business Account VIP

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    I'm saying who has the real leverage here. If there aren't that many end users, then it's the buyer. This could be the best offer the seller ever gets.
     
  17. johname

    johname Take that to LaBANC VIP ★★★★★★★★★★

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    There a roofing company with a TM. It probably far off a deep cliff after that with enduser possibilities, so you can &*(% up the deal if you really need to sell it.

    Seller might have freaked out when the found out the currency company now has a TM
     
  18. Mahouni

    Mahouni Established Member ★★★★★★★★★★

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    I'm on the same line. I'm sure they were smart enough to make a decent offer (25k) and say take it or leave it we're doing fine with what we have now good luck in future. Maybe a year passed and the guy needed it for something else... Maybe a next domain
     
  19. JB Lions

    JB Lions Business Member Business Account VIP

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    Or it looks like they might have just added the word pilates to the end of shapeshift, maybe got it for reg fee, and are now shapeshiftpilates.com - http://shapeshiftpilates.com/

    Still in business, still have a good name and $25,000 to invest back into the company or have some fun with.
     
  20. JB Lions

    JB Lions Business Member Business Account VIP

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    Just checked archive.org to make sure and it is them.
     
  21. JB Lions

    JB Lions Business Member Business Account VIP

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    I wish we could edit posts in the blog section but just wanted to add, I think it's actually an upgrade for both parties in this case. One going from an .io to a .com. The other party getting $25,000 and a domain that actually describes the business better. ShapeShift could be who knows what. ShapeShift Pilates tells you exactly what the business is about. Don't see any loss at all for them in the change.
     
  22. hugegrowth

    hugegrowth DomainMedia.ca VIP ★★★★★★★★★★

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    Seller sold too cheap. That name has great potential use for gaming, AR, VR and other new technology. Seen many worse names sell for same amount or more in recent times.
     
  23. toughdomains

    toughdomains Business Member Business Account VIP

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    great service when it works....another reason to stick with the king!
     
  24. Mahouni

    Mahouni Established Member ★★★★★★★★★★

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    Of course you forget the many better names that still remain to be unsold. Which one would you had chosen for 25k Fighting.com or ShapeShift.com?

    At the end of the day guys: Put money where it belongs, your pocket.
     
  25. sellbourne

    sellbourne Established Member

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    Good deal.
    i am still trying to sell CryptoMoneyExchange.Net
    hheehh
     
  26. ikhub

    ikhub Active Member VIP

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    Moral of the story: Crypto and Com are not Monkey business (y)
     
  27. Lakshan

    Lakshan Moderator, NamePros Moderator Business Account VIP

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    $25,000 or Btc 25,000? Or maybe ETH 25,000?
     
  28. Corey

    Corey Established Member

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    The definition of market Value = The estimated amount for which an asset should exchange between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.

    Congrats to both the buyer and the seller.

    Cheers
    Corey
     
  29. DomainDude42

    DomainDude42 Established Member

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    Do you think Erik will make the .com URL the homepage, or just a redirect to the current .io URL going forward? I could see arguments both ways.
     
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