Alter.com Marketplace

[Deven Patel]

Hi all,

I wanted to introduce a new premium domain marketplace we just launched called Alter. I would love to hear your thoughts! As the world’s largest community of domainers, your feedback would be invaluable.

Let me introduce myself. Although I’m new to NamePros, I’ve been around the block. I’ve been buying and selling domains for my own startup ideas for over 20 years. As a serial entrepreneur, I founded a number of startups across various industries like marketing, web hosting, social networking, blogging, and SaaS. This experience has helped me understand how indispensable a brand name is to a business.

Most new entrepreneurs don’t think twice about their company name. Our goal is to change that! A brand name literally has the power to make or break their business. This is more true today than ever before now that there are countless alternatives to every product or service imaginable. Sure, every business may have their own world-changing differentiator but from the outside they all look the same at which point the main differentiator ends up becoming their brand name. In a world full of distractions, we no longer have the attention span to thoroughly research what we buy so we rely on our emotions. This is why large businesses like Apple and Amazon spend billions on their “brand” alone because they understand that customer perception is everything.

Anyway, I noticed that most marketplaces that exist today are focused more on the seller rather than the buyer. Our goal is to reverse the equation and prioritize buyers because I think they are the key to success in any industry. The domain industry is no exception. Without buyers, there’s no money. This is why we’ve made it our mission to help entrepreneurs succeed!

And what’s with the 30-35% commission rate most of these marketplaces are charging? Unless they’re doing more work than a human broker, I don’t think anything over the industry average of 15-20% is warranted. We’re changing that. Alter has one of the lowest rates in the industry, an all-inclusive 10% commission fee when a name sells. There are no other fees or restrictions.

What do you think? Are we on the right track or barking up the wrong tree?

Deven

This was a promoted post.​

 

[Bob Hawkes]

Perhaps while we wait to see what develops, it might be a good time to develop a list of what we think is worthwhile about Alter as it stands, and what might need further tweaking. I realize both lists could be long, but maybe concentrate on the most important.

Things I like:

1. I like the presentation of names in the landers. They restrict you to short descriptions, but do give a chance to do a short pitch plus itemize some possible use sectors.
2. I think logos are used well in presentation, and the quality of the logos professionally designed were very good, at least compared to other marketplace logos. I like you could add your own, and even the options with free basic logos were good, especially in this era of minimalistic logos.
3. The site seems to do a good job of getting noticed on Google. For example if I place some domain names on Alter, and on another marketplace, and then Google "EXAMPLE domain" with just the SLD not full domain, but include word domain, it comes very high in Google search for Alter.
4. The basic TM search feature is user friendly and helpful.
5. Allowed BIN, make offer or various lease-to-own options, all user set.
6. I really like the analytics provided. Without doing any extra customization I can see how each domain name does in terms of both direct type-in and views via the Alter marketplace. I can set it to different time periods, thereby doing research if trying changes.
7. Has many features of a brandable place with commission levels of a general purpose marketplace.
8. Site provided phone number and other contact options for dealing with queries.
9. Sales were smoothly processed and payouts were very fast.
10. Many people hate appraisals, but at least if you use one the Alter appraisal is fast, free, and the 6-dimension presentation is helpful.
11. Overall good advice re importance and choosing a name, attractively presented.
12. As a fresh build, the site felt professional and responsive. Some of the legacy marketplaces suffer from decades long gradual evolution, in my opinion..

Things I think need work still, despite efforts to improve so far:

1. I don't think search yet is all that is needed. I don't see the logic of names it shows up for many searches I do. This may be due to the seller choices for categories, or simply search not great.
2. While I understand the move away from a collated collection, I think the varying quality of some names hurts the marketplace. I am not sure what a fair and economical way to address this, but I think that some form of approval of names is needed.
3. It would really help the marketplace to entice a few more stellar assets to the marketplace, and have them show on the home page. I mean great single word .com, .io and .xyz names.
4. I realize this would take some work, but I think cross-agreements with some naming services, web hosting providers, trademark services, branding/marketing experts could help both.
5. I think the appraisal system needs to recognize strength in .xyz and not view it just as same level as other new gTLDs.
6. I wonder if a cloud-based set of experienced naming/domaining people could, for a reasonable fee, help those seeking a name get down to a list of options from Alter. Idea would be the end user would fill a simple form saying something like what the sector is, their preferences re type of name and TLD choices, price range, etc. and then someone who has proven that they have good skills in names and know Alter well would go through and propose 5 names or something that are currently listed. I don't think the fee needs to be much (maybe $20 base and a 1% return from seller should a name get sold from the list to this buyer) but this could make the job so much easier for end user and make up for the weak search to some degree. Some of the features of SH contests, but a fast, small, set of great choices delivered within 24 hr.
7. I don't know details of the advertising spend so far, but if I owned the site I would concentrate on spending promoting Alter, rather than particular names for sale. In the long run this helps sellers more I think, and a better ROI.
8. The basic and professional or user logo presentation for names should somehow include the TLD as well as the SLD.
9. It is a minor thing, but I would take out the requirement to use 'name' in the description, and I would allow alphanumeric in descriptions e.g. saying 3D or web3 is currently impossible.
10. I would encourage buyers to permit announcement of their sales, and do that in a way that Alter had a news feed that is essentially a short announcement of new name for companies. I would keep price privacy as an option, but encourage buyers to let Alter make their new name known to the world. And along the way that would help Alters and sellers too.

I hope that Alter will continue, and some of these ideas will be implemented.

Bob

 

[Bob Hawkes]

It appears that (some?) names at Alter no longer have working HTTPS?

i.e. if you enter https://EXAMPLE.com for a name at Alter Google Chrome will give an security warning.
If you force it to http://EXAMPLE.com it is fine.

Since once visited, and then user return, I think many browsers default to https, it is problematic.

The name itself as directed, that is https://alter.com/names/EXAMPLE.com works fine.

I think it was an issue in early days and promptly fixed. I may not be explaining this well – perhaps @Future Sensors may wish to comment.

If there is any update on future of Alter @Deven Patel I know many would be anxious to know. But also understand that legal or contractual things may make it impossible to release anything now.

-Bob

 

[Future Sensors]

It appears that (some?) names at Alter no longer have working HTTPS?

i.e. if you enter https://EXAMPLE.com for a name at Alter Google Chrome will give an security warning.
If you force it to http://EXAMPLE.com it is fine.

Since once visited, and then user return, I think many browsers default to https, it is problematic.

The name itself as directed, that is https://alter.com/names/EXAMPLE.com works fine.

I think it was an issue in early days and promptly fixed. I may not be explaining this well – perhaps @Future Sensors may wish to comment.

If there is any update on future of Alter @Deven Patel I know many would be anxious to know. But also understand that legal or contractual things may make it impossible to release anything now.

-Bob

My best guess is that there are config problems with Server Name Indication (SNI) and/or the generation of TLS certs for all client domains. Atm, all client domains that are visited directly by means of https:// eventually produce the exact same fallback certificate with a validity of 10 years. This single fallback certificate is not valid for the individual client domains indeed. In the past, each domain had its own, separate, valid, TLS certificate.

The bigger picture seems to be that Alter is in limbo, after the official email announcement that the platform was going to shut down, and all client domains would be removed on April 2nd. After that, some hope and some fireworks followed, but it was never officially announced that the platform would continue its activities. Yes, it has become a complicated story and I empathize with Deven, but that does not mean that customers have no right to be informed. In any case, I have moved my domains elsewhere, but I retain full confidence in, and have great respect for Deven as a person.

 

[November]

Is that a big problem, can google penalize the domains, because the https error?

 

[Bob Hawkes]

Is that a big problem, can google penalize the domains, because the https error?

No I don’t think a long term issue, but it means someone going to lander would see Chrome warning and probably not go to lander.

 

[william]

For those hoping for @F.E. purchasing Alter, don't hold your breath. Including @Deven Patel. Everything that FE mentioned was a complete lie.

Starting with the 8 figure domain sale, to the acquisition of Alter, to the lawsuit, to the 42 BTC donation.

If you're serious about selling the platform @Deven Patel, find a real buyer. Or better yet, take some of these suggestions from people like @Bob Hawkes and see if you can make another run at it.

 

[MasterOfMyDomains]

More gossip. Thats what killed the deal imo
Thanks for your opinion(š)

 

[OnlineBusiness.com]

Has anyone heard from Deven the owner of Alter.com? I've been in discussions to acquire the business after the failed sale months ago. I gave him a solid offer about a week ago but haven't heard from him since.

I hope he is okay. And if okay, then maybe he's just ghosting me. And in which case, I wonder if this is what happened with the first buyer.

Anyway, just truly concerned about the lack of communication here.

 

[Bob Hawkes]

Has anyone heard from Deven the owner of Alter.com?

I have not had direct contact. Not sure how you tried through Alter contact, DM here or some other way. He is on LinkedIn, and another option would be to try a message contact there.

It is encouraging to hear that others are interested, if indeed the sale has failed. I have no definitive word on the status of that.

I like many of the features of Alter, and have kept a fair number of names pointed there, hoping it will continue.

Bob

 

[OnlineBusiness.com]

I have not had direct contact. Not sure how you tried through Alter contact, DM here or some other way. He is on LinkedIn, and another option would be to try a message contact there.

It is encouraging to hear that others are interested, if indeed the sale has failed. I have no definitive word on the status of that.

I like many of the features of Alter, and have kept a fair number of names pointed there, hoping it will continue.

Bob

Thanks for the reply Bob. Yes I have communicated with him via Linkedin before but what's more concerning is, he should get notifications on this thread. Either way I've already decided to move on from the deal. Just hope he's fine.

 

[gina ferrano]

I still have 4 names listed, and just received an offer on one (under asking but will accept or counter) just concerned since when I call I get no answer, I sent an email as well. I would rather make contact with someone, Deven before I proceed. Did anyone sell a name after April 2022, any issues if so?

 

[gina ferrano]

I still have 4 names listed, and just received an offer on one (under asking but will accept or counter) just concerned since when I call I get no answer, I sent an email as well. I would rather make contact with someone, Deven before I proceed. Did anyone sell a name after April 2022, any issues if so?

UPDATE: Sold name on Alter below asking, via offer. Hand reg, held for nine months. Offer, sale, Transfer, and funds received all within two days. Sure beats BB & SH's turnaround!

 

[omnia]

Officially closing on 3rd September, email received today:

============================================================================

Farewell Update​

Hi there, As you may know, the plan to close the Alter marketplace back in April was halted as a result of an acquisition offer. Unfortunately, that deal fell through as it seems like the buyer had signed our agreement in bad faith. And despite engaging with other interested parties, we weren't able to find Alter a new home. So regrettably, we will have to continue down the original path of shutting down the marketplace. On September 3rd, all remaining domain listings will be removed from our marketplace. Seller accounts will remain active until all pending installment sales are completed so payments can be cashed out. I would like to thank you again for your support and continued patience throughout this ordeal. It was truly a pleasure to have this opportunity to work with you over the last couple years. We wish you all the best in your future endeavors. Sincerely, Deven Patel Founder & CEO

===============================================================================

 

[Bob Hawkes]

Not sure if @Deven Patel still checks here at NamePros, but just wanted to say how much I appreciated what he created, and the classy way that he always interacted, even right down to the closing messages.

Alter did many things well:

• great analytics to check visits and favourites on individual names, sorted by marketplace and direct
• superb user interface
• excellent information for startups choosing a name
• comprehensive information on each domain in a standardized way
• nice logo options
• excellent visibility on net it seems of names
• great commissions
• BIN, make offer and payment plan options
• etc.

I am really sorry that the project did not work out, and wish you the very best in your next venture.

Sincerely,

Bob

 

[Bob Hawkes]

For those of you, like me, who left a number of names at Alter and now need to make sure the lander points somewhere else, remember that you can download a CSV spreadsheet format listing of all your names with the asking prices, number visits last 30 days, number favourites, status (listed, sold, etc.).
It is under Manage Domains then CSV Export.

Bob

 

[DomainBanana]

Seems odd to me that the original sale of the marketplace was in the high six figures, but when that didn't go through, Deven would just walk away.

It's rare that someone walks away from a six-figure asset.

Surely there would be other interested buyers, or at least there would have been before Deven announced that he was completely shuttering the marketplace and asked everyone to remove all listings.

 

[November]

I've removed all my 500 listings and redirected them to Dan.com

 

[Future Sensors]

It's unbelievable. There are still people who are changing their nameservers to Alter right now. Obviously this does not work and one ends up on Alter's main page. In total, more than 600 domains are still pointing to Alter using their nameservers.

 

[Bob Hawkes]

It's unbelievable. There are still people who are changing their nameservers to Alter right now. Obviously this does not work and one ends up on Alter's main page. In total, more than 600 domains are still pointing to Alter using their nameservers.

I wonder if some of these are sold domain names where the new owner has done nothing at all, not even changed DNS. A surprising fraction of sales that seems to happen for months or years. I sold a .com domain name at Epik Aug 2021, and as of today still pointed to my Epik lander. I negotiated directly, and know buyer not a domainer and what his plan was for name.

At least one of the Alter DNS is that. I sold the .com domain name on Afternic BIN last July, but the lander pointed to Alter (kept hoping the marketplace was coming back). The buyer has not changed the DNS, so it still points to Alter, even though the name was not even sold there.

My guess is that economic turmoil of recent years has resulted in even more plans not followed through, and more domains sitting without even DNS changed.

But sure some are just landers slipped through cracks. I discovered one of mine still pointed to Alter just a few weeks ago.

-Bob

 

[Future Sensors]

@Bob Hawkes Here are the names:

https://dns.coffee/nameservers/ns1.alter.com