In this week's Inside Interview, I had the pleasure of chatting with Blain Reinkensmeyer; a partner at Reink Media Group. Along with a team of three others, Blain runs the popular StockBrokers.com service, which provides unbiased reviews and ratings for online brokers.
Having originally created their website under the name TradeWiser.com in 2009, they upgraded to StockBrokers.com in early 2011 after paying a fee of $185,000 according to DNJournal.com. The company also operates other sites such as StockTradingToGo.com and InvestingTeacher.com.
In this interview, we find out a little more about Blain's company, how they started, and why StockBrokers.com was such an important purchase for them.
1. Can you give us a background of your company?
Reink Media Group - ReinkMedia.com - owns and operates multiple sites in the financial vertical including StockBrokers.com, StockTrader.com, Ticker.tv, and InvestingTeacher.com. We are a small family-owned media group based in Michigan, United States, with a huge passion for the web alongside finance.
2. You first started online at TradeWiser.com. Why did you choose this name?
TradeWiser.com was ranked well in Google for several key online broker phrases back in 2009. The acquisition of this domain from its owner was strictly for these rankings. After acquiring the domain and the site's content with cash for low five figures, we subsequently paid off the purchase in less than 18 months. It was a great launching pad.
3. When did you first consider changing from TradeWiser to StockBrokers.com?
In mid-2010, which was roughly a year after the TradeWiser.com acquisition took place.
4. How did you find out that StockBrokers.com was available to purchase? Did you actively seek out the name, or was it a domain name that was offered to you?
We actively sought out the name. It was undeveloped, and we felt that from a branding standpoint the domain was the cream of the crop.
5. As listed on DNJournal.com, the price paid for StockBrokers.com was $185,000. Can you tell us the owner's original asking price and your opening offer?
I want to say the original asking was $300,000 and we came in at something crazy low like $50,000 knowing we would get a nice, “no.” Our original offer served the purpose of establishing that we had a legitimate interest.
6. Were the negotiations fairly straightforward to arrive at your price of $185,000?
Yes. Once we put in a serious follow up offer, negotiations formally kicked off.
7. Do you think that $185,000 is a fair price for StockBrokers.com?
It was a big bet at the time (closed out the domain in early 2011) but we were confident with the purchase price.
8. Would you have considered paying more than $185,000 for the name?
Yes, I believe our cut off was $200,000 but I’m not positive.
9. Did you ever consider buying StockBroker.com (singular) too?
We did. At the time in early 2011, we only had enough capital to buy StockBrokers.com. The asking on the singular was too high to operate as simply a redirect. We were also confident in the plural being the more applicable brand over the singular. Some five+ years later we still feel the same way.
10. On your website, you state that your annual review is respected as the toughest in the industry. Do you find that owning StockBrokers.com has contributed towards your respected position? Would companies be less inclined to listen to advice from TradeWiser.com?
The quality and depth of the review certainly plays a key role (read our annual opening letter for a good summary). That said, we do feel the domain has without question contributed to our success. Our first annual review was published under TraderWiser.com, and compared to the second, which was under StockBrokers.com, the industry response was far higher.
11. Do you think you could have achieved the same level of success without owning stockbrokers.com?
Success? Yes. The same level? Absolutely not.
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Thanks to Blain for taking the time to answer these questions. There are some really interesting points within the interview. If you enjoyed this interview, let us know.
Inside Interviews is a blog series profiling the buyers of high-value domain names. Find out their motives, negotiation tactics, and their opinions on popular domaining topics only on the NamePros Blog.
Having originally created their website under the name TradeWiser.com in 2009, they upgraded to StockBrokers.com in early 2011 after paying a fee of $185,000 according to DNJournal.com. The company also operates other sites such as StockTradingToGo.com and InvestingTeacher.com.
In this interview, we find out a little more about Blain's company, how they started, and why StockBrokers.com was such an important purchase for them.
1. Can you give us a background of your company?
Reink Media Group - ReinkMedia.com - owns and operates multiple sites in the financial vertical including StockBrokers.com, StockTrader.com, Ticker.tv, and InvestingTeacher.com. We are a small family-owned media group based in Michigan, United States, with a huge passion for the web alongside finance.
2. You first started online at TradeWiser.com. Why did you choose this name?
TradeWiser.com was ranked well in Google for several key online broker phrases back in 2009. The acquisition of this domain from its owner was strictly for these rankings. After acquiring the domain and the site's content with cash for low five figures, we subsequently paid off the purchase in less than 18 months. It was a great launching pad.
3. When did you first consider changing from TradeWiser to StockBrokers.com?
In mid-2010, which was roughly a year after the TradeWiser.com acquisition took place.
4. How did you find out that StockBrokers.com was available to purchase? Did you actively seek out the name, or was it a domain name that was offered to you?
We actively sought out the name. It was undeveloped, and we felt that from a branding standpoint the domain was the cream of the crop.
5. As listed on DNJournal.com, the price paid for StockBrokers.com was $185,000. Can you tell us the owner's original asking price and your opening offer?
I want to say the original asking was $300,000 and we came in at something crazy low like $50,000 knowing we would get a nice, “no.” Our original offer served the purpose of establishing that we had a legitimate interest.
6. Were the negotiations fairly straightforward to arrive at your price of $185,000?
Yes. Once we put in a serious follow up offer, negotiations formally kicked off.
7. Do you think that $185,000 is a fair price for StockBrokers.com?
It was a big bet at the time (closed out the domain in early 2011) but we were confident with the purchase price.
8. Would you have considered paying more than $185,000 for the name?
Yes, I believe our cut off was $200,000 but I’m not positive.
9. Did you ever consider buying StockBroker.com (singular) too?
We did. At the time in early 2011, we only had enough capital to buy StockBrokers.com. The asking on the singular was too high to operate as simply a redirect. We were also confident in the plural being the more applicable brand over the singular. Some five+ years later we still feel the same way.
10. On your website, you state that your annual review is respected as the toughest in the industry. Do you find that owning StockBrokers.com has contributed towards your respected position? Would companies be less inclined to listen to advice from TradeWiser.com?
The quality and depth of the review certainly plays a key role (read our annual opening letter for a good summary). That said, we do feel the domain has without question contributed to our success. Our first annual review was published under TraderWiser.com, and compared to the second, which was under StockBrokers.com, the industry response was far higher.
11. Do you think you could have achieved the same level of success without owning stockbrokers.com?
Success? Yes. The same level? Absolutely not.
--
Thanks to Blain for taking the time to answer these questions. There are some really interesting points within the interview. If you enjoyed this interview, let us know.
Inside Interviews is a blog series profiling the buyers of high-value domain names. Find out their motives, negotiation tactics, and their opinions on popular domaining topics only on the NamePros Blog.
