Dan.com

domains Damon Chen: I Just Spent $35,000 on a Domain. Here is Why! - testimonial.io.

NameSilo

lovedomains

Upgraded Member
Impact
182
Hi to all! I found this story fantastic :) congrats to the buyer domain and seller :xf.smile:


A little background of me, I'm Damon, and I am the founder of Testimonial, a platform that helps businesses collect, manage and distribute testimonials in a single place. Our website domain is testimonial.to.

Why do I need another domain with the .io TLD? Why do I think it’s worth $35,000?
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The views expressed on this page by users and staff are their own, not those of NamePros.
Impact
3,894
Hi to all! I found this story fantastic :) congrats to the buyer domain and seller :xf.smile:


A little background of me, I'm Damon, and I am the founder of Testimonial, a platform that helps businesses collect, manage and distribute testimonials in a single place. Our website domain is testimonial.to.

Why do I need another domain with the .io TLD? Why do I think it’s worth $35,000?
[continue]
Nice story but is not a true American / patriot :xf.wink:
Testimonial . us 10 times cheaper :xf.wink:
Once again this show many investors or businesses don't have a clue what domains or extensions need to buy :xf.wink:
 

Steven McEvoy

DotBarista.comTop Contributor
Impact
1,669
Nice story but is not a true American / patriot :xf.wink:
Testimonial . us 10 times cheaper :xf.wink:
Once again this show many investors or businesses don't have a clue what domains or extensions need to buy :xf.wink:
Agree! its sad people dont realize that theyre buying another country tld becauase of a marketing scheme... I would of took testimonial.us over any other cctld.
 

marijuanadomain

Restricted (15-30%)
Impact
488

Recons.Com

Top Contributor
Impact
17,041
So the only thing clear from the article is that he bought because someone misspelled his even worse extension domain. I wonder what he is going to do when people misspell it for Testimonial.com?

And, his financial justification for it is really weird. The truth is he felt hurt that he is missing out on a flattering promo post and the rest is just manipulation to make him feel good about the deal ))
 

coolhands

RIP RizTop Contributor
Impact
480
So the only thing clear from the article is that he bought because someone misspelled his even worse extension domain. I wonder what he is going to do when people misspell it for Testimonial.com?

And, his financial justification for it is really weird. The truth is he felt hurt that he is missing out on a flattering promo post and the rest is just manipulation to make him feel good about the deal ))

in the near future you will see people misspelled .com for .io , just mark my words.
 

coolhands

RIP RizTop Contributor
Impact
480
How do you know?
all roads lead to dot com

statistics my friend, I know more .io websites than .com , there is so much well known sites today developed under .io extension
 

marijuanadomain

Restricted (15-30%)
Impact
488
statistics my friend, I know more .io websites than .com , there is so much well known sites today developed under .io extension
show me the data!!
do you prefer dot com or other bs extension
 

marijuanadomain

Restricted (15-30%)
Impact
488
So the only thing clear from the article is that he bought because someone misspelled his even worse extension domain. I wonder what he is going to do when people misspell it for Testimonial.com?

And, his financial justification for it is really weird. The truth is he felt hurt that he is missing out on a flattering promo post and the rest is just manipulation to make him feel good about the deal ))
"the rest is just manipulation to make him feel good about the deal" totally agree!!

he could have spent some extra money to get the dot com and sleeps well at nite.
 

TopBrandsForSale

Upgraded Member
Impact
218
Hi, congrats on your purchase!
Aren't you concerned about not owning the .com?
Will you consider the upgrade from .io to .com if you will have the chance?

I own the .com of a similar saas business (they own the .io) that's why I'm asking :)
 
I think it makes sense. The buyer also wrote that this wasn't the first time people, including his customers, mistook the extension for .io. They aren't mistaking it for .com - the error is specific and he's losing out. Looks like he negotiated well and the seller really lucked out.
 

spigiv

Established Member
Impact
333
Amazing story and smart guy. Not only does the number logic behind the purchase make sense but the free marketing / publicity he gets from this story in itself is equaly valuable if not more B-)

Smart move and seems like a good effect / impact from it. Would love to see if this generated some leads and later clients in the end.
 

Recons.Com

Top Contributor
Impact
17,041
I think it makes sense. The buyer also wrote that this wasn't the first time people, including his customers, mistook the extension for .io. They aren't mistaking it for .com - the error is specific and he's losing out. Looks like he negotiated well and the seller really lucked out.

The only reason they did not mistake it for .com is the way the memory works. If it was the default extension he had (.com for anything beyond country boundaries, and cctld for some countries), then the brain would get signal that all it has to remember is the name itself. When it is something else, it has to create "another row in the database" and cross-reference it. And now when it is time to recall, he remembers that it was some other extension that tech guys like, but doesn't remember anything beyond that. And .io might take precedence over .co in the tech guys' pecking order.

So, basically, if I have Rightbrand.com I don't have to bother with all that and it also becomes ok for me to just use Rightbrand without the extension. This is luxury allowed for .com only and for .de, .co.uk, .fr etc. in their respective country boundaries.
 
The only reason they did not mistake it for .com is the way the memory works. If it was the default extension he had (.com for anything beyond country boundaries, and cctld for some countries), then the brain would get signal that all it has to remember is the name itself. When it is something else, it has to create "another row in the database" and cross-reference it. And now when it is time to recall, he remembers that it was some other extension that tech guys like, but doesn't remember anything beyond that. And .io might take precedence over .co in the tech guys' pecking order.

So, basically, if I have Rightbrand.com I don't have to bother with all that and it also becomes ok for me to just use Rightbrand without the extension. This is luxury allowed for .com only and for .de, .co.uk, .fr etc. in their respective country boundaries.
Not sure what you are saying. Should he have tried to purchase the com? He would be looking at six figures, which he didn't have. The issue isn't that someone (one person) misspelled the extension. It's that it was happening often enough and would predictably continue to happen by customers and people with large followings on social media. He had a business problem and solved it.
 

Lloris

New Member
Impact
4
As It is clearly stated that you need to earn a lot of dough to justify paying that much. Then, again, when you consider it is like a real estate. It may make sense in the long run. I spend $10,000 on a domain and regretted it because I now think that I should have tried harder and get the .com version even it means 5x more. Good luck.