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James Iles

Inside Interview: Why Packet Paid $350,000 for Packet.com

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By James Iles, Mar 12, 2019
  1. James Iles

    James Iles Top Member PRO Gold Account VIP Trusted Blogger

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    Inside Interview is a series in which we talk to buyers of high-value domain names to discover why they purchased these names, and what they’re doing with them. In this edition, we’re speaking with Jacob Smith, CMO of Packet, a cloud computing company based in New York.

    In 2018, Packet made the momentous decision to acquire the Packet.com domain name for $350,000 from domain investor Braden Pollock. Here, we talk to Jacob about Packet, and how they came to acquire the Packet.com domain name.

    packet.jpg
    Packet's logo


    When did Packet launch?

    Can you describe what Packet does?

    How did you initially come up with the brand name Packet? What was the process involved in brainstorming for your brand name?

    Did you consider domain availability when choosing the Packet brand name?

    When did you initially look at purchasing the Packet.com domain name?

    Was your decision to buy Packet.com influenced by your successful Series B funding in September 2018?

    Did you use any tools (e.g., automated appraisals), services (e.g., manual appraisals, domain brokers), or data (e.g., sales data, search volumes, search results) to determine your best offer and/or the value of the domain?

    Was it an easy decision to buy Packet.com for $350,000? Did any of your team need convincing of its value?

    Since the domain acquisition, have you noticed a spike in traffic or increased user attention that can be attributed to the purchase of Packet.com?

    What do you feel that Packet.com adds to the Packet brand? (for example, does it add extra trust or a sense of permanence?)

    What would be your advice for startups considering acquiring a premium domain name?

    --

    Thanks to Jacob for a fascinating interview! One of the key points from that interview is, I think, that before the acquisition of the domain, Packet’s enterprise prospects often visited Packet.com by mistake before ultimately finding Packet.net, an experience that lowered the value of the company.

    If you’re interested in finding out more about Packet’s services, or you want to follow Packet’s progress, you can follow the team at their Twitter account, @packethost.

    This interview has been edited for clarity.
     
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  4. James Iles

    About The Author — James Iles

    James is a domain name industry professional currently working on numerous domain industry research, acquisition and sales projects. Contact [email protected] For all inquiries relating to NamePros stories and interviews, please email: [email protected]

    This is James Iles's 631st blog post on NamePros. View all blog posts

    Home Page:
    https://about.me/iles
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  5. Comments (12)

  6. kandyan

    kandyan Established Member

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    Thanks for sharing.
     
  7. What Jacob failed to mention, or possibly didn’t know, was that they weren’t receiving all their email. There was a fair amount of leakage to the .com.
     
  8. FolioTeam

    FolioTeam Top Member VIP

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    Thanks for this
     
  9. James Iles

    James Iles Top Member PRO Gold Account VIP Trusted Blogger

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    Thanks, Braden. That's interesting, and email & traffic leakage to .COM should always be a contributing factor when considering the value of a premium .COM, I think.
     
  10. maxtra

    maxtra Let's make a deal Gold Account VIP

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    Thanks
     
  11. Mister Funsky

    Mister Funsky Top Member VIP

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    Thanks for the article...it is awesome to see a name transaction where the seller is pleased and the buyer sees the value of spending an appropriate amount of money to secure a brand/identity.
     
  12. Mr. Deleted

    Mr. Deleted Slabaugh.com 800-266-2728 VIP ★★★★★★★★★★

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    I know about that, having to tell people my email was slabaugh.org. I did however recently get the .com and as of last night, I am able to get my email at joe @slabaugh.com. Hopefully that will change the amount of confusion that there was with the .org.
     
    Last edited: Mar 12, 2019
  13. Tarabasa Domains Ltd

    Tarabasa Domains Ltd Established Member

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    Great post to read - very informative and opens a wider perspective on the domain industry and reasons behind acquisitions.
     
  14. offthehandle

    offthehandle . Gold Account VIP

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    These reported end user sales are always excellent news, thanks @James Iles for doing the work, interview, research and congratulations to buyer and glad to see the seller commenting. Wish them much success! Hope you continue to find more of these sales and this NP blog end user usage reports, as they reinforce the true value and market confidence. Thank you.
     
  15. Adam27

    Adam27 GreenJobs.com VIP

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    How much Braden?

     
  16. dande

    dande UNNATURE.COM VIP

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    Good one
     
  17. astefanuk

    astefanuk New Member

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    Hey! Thanks for posting! Great article!
     
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