When I logged on to Twitter this morning, I was met with a tweet from domain investor George Kirikos claiming to have uncovered one of the most expensive domain transactions in history.
Edit: Article updated for accuracy. The domain deal is for $90,000,000 payable until 2040. Not $65 million as was previously announced.
After reaching his Twitter target of 10 Retweets, George Kirikos revealed details of the massive $90 million domain name sale. The information, which was revealed on George's Twitter page shows that LasVegas.com sold for a $90 million payment agreement in 2005, starting with an initial $12,000,000 fee.
This sale dwarfs any other domain name sale in public record. The highest domain sale recorded has previously been Sex.com for $13,000,000. Some media outlets claim insurance.com for $35.6 million in July 2010 is the highest domain sale of all time, but this was not purely a domain name purchase.
The SEC filing from Vegas.com LLC shows that they entered into an agreement to buy the domain name LasVegas.com. They initially paid a fee of $12,000,000 and will pay up to $90 million in total.
Here's a quote from the SEC filing:
If Vegas.com LLC wish, they can stop paying for the domain in June 2016 and lose the right to use the name, or they can pay $208,000 per month until 2040. So far they have paid around $30,000,000 for the domain name (includes the initial $12 million payment and subsequent monthly payments).
Here is how the payments have been broken down:
LasVegas.com shows a fully operational website, displaying information regarding hotels, shows, and tours in Las Vegas. LasVegas.com has a global Alexa ranking of around 30,000 and shows up on the number 1 spot on Google for the search term
Incidentally, NamesCon will be in Las Vegas in 2016. With this new information, it seems very apt that domain investors will flock to Vegas!
Edit: Article updated for accuracy. The domain deal is for $90,000,000 payable until 2040. Not $65 million as was previously announced.
After reaching his Twitter target of 10 Retweets, George Kirikos revealed details of the massive $90 million domain name sale. The information, which was revealed on George's Twitter page shows that LasVegas.com sold for a $90 million payment agreement in 2005, starting with an initial $12,000,000 fee.
This sale dwarfs any other domain name sale in public record. The highest domain sale recorded has previously been Sex.com for $13,000,000. Some media outlets claim insurance.com for $35.6 million in July 2010 is the highest domain sale of all time, but this was not purely a domain name purchase.
The SEC filing from Vegas.com LLC shows that they entered into an agreement to buy the domain name LasVegas.com. They initially paid a fee of $12,000,000 and will pay up to $90 million in total.
Here's a quote from the SEC filing:
In May 2005, the Company entered into a contract under which it agreed to pay $12,000,000 for exclusive right to use the domain name “LasVegas.com.” The contract term is 35 years. The Company is amortizing the domain name rights over 35 years. The Company is also obligated to make payments of approximately $208,000 a month
If Vegas.com LLC wish, they can stop paying for the domain in June 2016 and lose the right to use the name, or they can pay $208,000 per month until 2040. So far they have paid around $30,000,000 for the domain name (includes the initial $12 million payment and subsequent monthly payments).
Here is how the payments have been broken down:
- An initial $12 million payment in May 2005
- $83,000 per month for the next 36 months
- $125,000 per month for the next 60 months
- $208,000 per month for the next 36 months
LasVegas.com shows a fully operational website, displaying information regarding hotels, shows, and tours in Las Vegas. LasVegas.com has a global Alexa ranking of around 30,000 and shows up on the number 1 spot on Google for the search term
Las Vegas.Incidentally, NamesCon will be in Las Vegas in 2016. With this new information, it seems very apt that domain investors will flock to Vegas!
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