advice A large ISP in Singapore wants to purchase my domain name. Please advice

paknet · Feb 20, 2020

TLDR: A large ISP in Singapore wants to purchase my domain name. I have never sold a domain name before. I am in panic!

Hi everyone,

My friend works for a large ISP in Singapore (I am not disclosing the company name). Last month during a casual conversation, he told me about this new satellite product their company is about to launch in coming months. I was curious about the product name and upon hearing it, being a domain enthusiast, I quickly found the domain name for the product name was available (I am not disclosing the domain name either). It's a dictionary word but not common at all. So I quickly registered the domain name and built a relevant one page website that talks a few topics about the name (the technology itself). The .net is still available but I am afraid of registering it and be accused of cybersquatting their brand/product name and may end up losing both the .com and .net

Yesterday, I received an email from somebody within the company. The person asked if the domain were of any value to me and whether I will be willing to sell the domain name to them. To my surprise, from what I have heard, a company of this size would never approach somebody expressing interest of buying a domain name directly. In fact, they may hire a broker or a negotiator instead to make the deal for them.

First, I thought the email was either fake or a scam but upon investigating the headers of the email and other bits and pieces (I am an IT guy myself), the email is indeed genuine and came from within the company email servers. I also found the person who emailed me on LinkedIn and his profile does state that he is been working on the product (that is the domain name I own) from past eight months.

Here is the problem! I have NEVER EVER sold a domain name in my life. I have never ever listed any of my domain names on any of the domain marketplaces. I have literally ZERO experience in negotiating or closing a domain sale.

On top of that, I have NO CLUE of how much should I expect for this domain name. I know you be thinking how can we help if I don't disclose the domain name, but at this point, I seriously can't and don't want to. Given the size and magnitude of the company, I am intrigued to email them back and asking for a ridiculous amount but having no prior experience, I don't want to end this opportunity by my stupidity.

Please help. I am in a state of panic and disbelief!

Grego85 · Feb 21, 2020

Any luck coming up with a price yet, Paknet?

lock · Feb 21, 2020

paknet said:
Question: What advice did I receive? Please answer

I took offense only when he/she started targeting me on personal level and called me names like *deceiver* and *you people make us look bad*. That's not my style of taking lessons from strangers. I will take offense, thank you.

Question: What exactly did I try to teach?

Kindly answer the two questions sir/madam.

It's not cybersquatting if it's a legit dictionary word.

1 More what advice you just cant see. Every trademark that is a dictionary word is in the dictionary. Many are single words. So this logic means if it is in dictionary it can't be a squat. We don't know what it is and you haven't been accused of a squat it was more making you aware what it really is.
2 I don't care about your beef. You don't understand ethics. You took a company idea to sell it back. Often on here people will ask questions that might put them in vulnerable situations eg naming the domain they have problem with. Some occasions getting it back from a theft instead of stealing it again. We protect each others lively hoods at every chance.
3 Was a statement as you admitted to wanting to learn not to teach you know it and just want to call me out so gee up all you like. A waste of time.

Nobody knows what name is everything said is speculation and scenarios. You have an opportunity but it sounds a little grey black hat. If you never mentioned that you took the idea none of this would have come to fruit.

lock · Feb 21, 2020

Good luck with Rob he knows what he is doing and will advise you accordingly.

Mister Funsky · Feb 21, 2020

Interesting thread and I look forward to learning the outcome.

Inside/overheard information is part and parcel of the business world and the perception of 'right or wrong' can often depend on which side of the fence the parties are.

Without addressing the 'right or wrong' of your position, the thing for you do is divest yourself of the name as soon as possible...if Rob comes to you with an offer, considering the giggle overlords have documented this thread, I would take it.

Domain_savvy · Feb 21, 2020

IMO, The karma won't behave badly if you share the profits with your said 'friend'.
Company will learn its lesson of not disclosing product names before they grab important digital assets.
And my 2 cents for OP will be to not follow such strategy (insider info) because it can get you and your friends in serious trouble if the company is smart enough.

topdom · Feb 21, 2020

I would list it somewhere and make instant purchase possible, and my asking price would be , like 20K. You can make it 10K, or 100K also, but higher the price higher the risk, unless you are sure you can defend it. By risk I mean, losing, or not being able to sell.

bonin · Feb 21, 2020

List the domain at dan.com, with a “buy now” let say around 20k, if they hit “buy”, pay a commission to your friend 10-15%, buy a bottle of good wine celebrate and then wright a book... start selling the book on amazon and be happy. Job done, don’t panic this is just life and there is no restart button

Jimmysun · Feb 21, 2020

GOOD JOB!

paknet · Feb 21, 2020

Update: All legal aspects have been discussed and professionally evaluated by industry legal representatives. The Sale must go through

Thanks everyone for your feedbacks.

paknet · Feb 22, 2020

Update: Offer received in $xx,xxx (less than $20k)

bonin · Feb 22, 2020

Accept the offer and move on

The Durfer · Feb 23, 2020

nicely, state the price as you would determine by the name and who is approaching you for it, and go with that. good luck.

The Durfer · Feb 23, 2020

im sorry i think 5 figures is a nice price for any domain. Take it and turn it into (2) 5 figures. whoohoo!

paknet · Feb 23, 2020

The Durfer said:
im sorry i think 5 figures is a nice price for any domain. Take it and turn it into (2) 5 figures. whoohoo!

Domain already sold for five figures

Ja Kai · Feb 23, 2020

paknet said:
Domain already sold for five figures

Let us see the proof. I don't think you sold it just like that.

Deals don't happen like this - that is, 5 figure deals. Unless you are talking PKR - NOT USD.

nothere · Feb 23, 2020

paknet said:
Please help. I am in a state of panic and disbelief!

First you don't have to disclose the name, anyone concerned will already know...and you said how you registered the name. If I were a judge, I'm make sure you lose the name.

ss3000 · Feb 25, 2020

paknet said:
TLDR: A large ISP in Singapore wants to purchase my domain name. I have never sold a domain name before. I am in panic!

Hi everyone,

My friend works for a large ISP in Singapore (I am not disclosing the company name). Last month during a casual conversation, he told me about this new satellite product their company is about to launch in coming months. I was curious about the product name and upon hearing it, being a domain enthusiast, I quickly found the domain name for the product name was available (I am not disclosing the domain name either). It's a dictionary word but not common at all. So I quickly registered the domain name and built a relevant one page website that talks a few topics about the name (the technology itself). The .net is still available but I am afraid of registering it and be accused of cybersquatting their brand/product name and may end up losing both the .com and .net

Yesterday, I received an email from somebody within the company. The person asked if the domain were of any value to me and whether I will be willing to sell the domain name to them. To my surprise, from what I have heard, a company of this size would never approach somebody expressing interest of buying a domain name directly. In fact, they may hire a broker or a negotiator instead to make the deal for them.

First, I thought the email was either fake or a scam but upon investigating the headers of the email and other bits and pieces (I am an IT guy myself), the email is indeed genuine and came from within the company email servers. I also found the person who emailed me on LinkedIn and his profile does state that he is been working on the product (that is the domain name I own) from past eight months.

Here is the problem! I have NEVER EVER sold a domain name in my life. I have never ever listed any of my domain names on any of the domain marketplaces. I have literally ZERO experience in negotiating or closing a domain sale.

On top of that, I have NO CLUE of how much should I expect for this domain name. I know you be thinking how can we help if I don't disclose the domain name, but at this point, I seriously can't and don't want to. Given the size and magnitude of the company, I am intrigued to email them back and asking for a ridiculous amount but having no prior experience, I don't want to end this opportunity by my stupidity.

Please help. I am in a state of panic and disbelief!

I think it may be a scam sounds familliar to a contact i had with same kind of company turned out to be a scam you gotta send money to get money kind of thing. Maybe next time but also make shure it is a scam.

lock · Feb 27, 2020

ss3000 said:
I think it may be a scam sounds familliar to a contact i had with same kind of company turned out to be a scam you gotta send money to get money kind of thing. Maybe next time but also make shure it is a scam.

https://www.namepros.com/threads/ne...et-me-save-you-credibility-and-money.1149853/

advice A large ISP in Singapore wants to purchase my domain name. Please advice

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