CNN Acquires iReport.com For $750,000 Seller Registered It Last 1997 For $70 or $100

[DomainExplorer]

The whois is showing now that CNN is the registrant:

Domain Name: IREPORT.COM
Registrant:
Turner Broadcasting System
One CNN Center
Atlanta, GA 30303
US
404-827-3470
Fax:404-827-1995

Record last updated 01-16-2008 01:08:13 PM
Record expires on 10-29-2017
Record created on 10-02-1997

Quote From DNJournal

T.R.A.F.F.I.C. Conference co-founder and pioneer domain investor Rick Schwartz has just completed the sale of iReport.com to the Cable News Network for $750,000. As the contract was being finalized Schwartz was asked if he had any similar domains so he told CNN he also owned the hyphenated version, i-Report.com. When the cable TV company expressed interest in getting that domain as well to protect their planned branding of iReport.com, Schwartz said he decided to give them that less desirable name at no charge rather than re-open negotiations and delay closing of the deal for iReport.com.

Link To DNJournal Reporting This

Will this be a trigger for the Mainstream Media/ Big Companies to buy generic domains at end-user prices?

 

[tonyfloyd]

slick rick at it again....

 

[Jeff]

Thread:
http://www.namepros.com/industry-news/419689-ireport-sold-for-750-000-a.html?highlight=iReport.com

DNJ:

It is also encouraging to see a major end user like CNN recognize the key role a domain name can play as the platform for launching a new product or service.

Righto, I can't wait 'til they develop it and start promoting it! :gl: :lala:
-Jeff

 

[john645]

Thats crazy, just goes to show how much money can be made if you find the right end user.

 

[Markith]

Thats crazy, just goes to show how much money can be made if you find the right end user.

Or if you knew to buy&hold domains in 1997

 

[goodkarmaco]

Yes,

but how many of us would have even thought to ask that much?. I will bet most domainers would have jumped at $10,000 for the domain. It just shows Rick has a grasp on values.

 

[gazzip]

He can afford to keep rejecting lowball offers for many years to come, his wrist watch probably costs more than what I've had to live on for the last 10 years :hehe:

fantastic price - all I can say is WOW nice one !



.

 

[goodkarmaco]

He made a post in his blog that I find inspires me to keep plugging along.

He said he runs his business from his laptop plinking one plink at a time, often in his comfortable pjs, with no employees.

That is an amazing business model when you ponder his annual gross revenue from parking his names is something like 20 million a year if I remember right.

 

[htmlindex]

Or if you knew to buy&hold domains in 1997

Only if I knew how to use a computer & was old enough back then to get into the business