sales Escrow.com purchased for $7.5 million

[equity78]

Freelancer.com announces the acquisition of Escrow.com and completion of capital raising

Some big news for a Sunday night, Escrow.com getting acquired by Freelancer.com. Back in September of 2014, Escrow.com purchased Agreed.com.

SYDNEY, April 27, 2015:

Freelancer.com, the world’s largest freelancing and crowdsourcing marketplace,today announced that it had entered into a definitive agreement to acquire Escrow.com from a private investor for US$7.5 million in cash, and completed a AUD$10 million placement of ordinary shares to institutional investors.

http://www.thedomains.com/2015/04/26/escrow-com-purchased-for-7-5million/

 

[James Rodman]

only 7 million? lol

 

[silentg]

Congrats to escrow.com team. Why the price is so low?

 

[NameYourself]

I agree, 7.5M makes no sense.. this is a full fledged, very well known company.. there's no way it sold for such a low sum unless the entire company was deep in the red.

 

[silentg]

O̶k̶ ̶t̶h̶e̶r̶e̶ ̶w̶e̶r̶e̶ ̶s̶t̶o̶c̶k̶s̶ ̶i̶n̶v̶o̶l̶v̶e̶d̶.̶ ̶
̶$̶7̶.̶5̶ ̶m̶i̶l̶l̶i̶o̶n̶ ̶c̶a̶s̶h̶ ̶a̶n̶d̶ ̶$̶1̶0̶ ̶M̶i̶l̶l̶i̶o̶n̶ ̶A̶U̶D̶ ̶(̶$̶7̶.̶8̶ ̶M̶i̶l̶l̶i̶o̶n̶ ̶U̶S̶D̶)̶ ̶i̶n̶ ̶s̶t̶o̶c̶k̶.̶


Edit: sale price was only $7.5million

 

[xull]

Wow. A good deal for Freelancer I think. Might be a good chance for Freemarket to rise!

 

[forge]

Time to find a new escrow company?

 

[equity78]

Ok there were stocks involved.
$7.5 million cash and $10 Million AUD ($7.8 Million USD) in stock.

No the company placed the stock to raise money for the acquisition.

Escrow.com did $5m revenue for 2014, not a huge company really.

 

[forge]

Wouldn't you think the domain alone would be worth $2M at least?

 

[The New Guy]

Yuck.

 

[silentg]

No the company placed the stock to raise money for the acquisition.

Escrow.com did $5m revenue for 2014, not a huge company really.

Ok freelancer got a good deal.

 

[xull]

Wouldn't you think the domain alone would be worth $2M at least?

Second to this!

 

[johname]

Next year someone will buy Freelancer.com lol

 

[silentg]

Next year someone will buy Freelancer.com lol

My guess is they bought escrow.com to use with their freemarket.com. To compete with flippa and their free escrow.

 

[Soofi]

7.5 million? That is it?

Am I missing something here?

 

[Soofi]

Time to find a new escrow company?

DN.com

 

[kawalsukhi]

My guess is they bought escrow.com to use with their freemarket.com. To compete with flippa and their free escrow.

May be this was the reason!!

 

[ivey]

Here's an article to help bring some clarity: http://www.domaininvesting.com/breaking-escrow-com-acquired-by-freelancer-com/

 

[onebrand.co]

After the all the negativity surrounding Freemarket, looks like its no more Escrow.com...

 

[Soofi]

After the all the negativity surrounding Freemarket, looks like its no more Escrow.com...

lol Escrow.com will be a forgotten brand now under the not-so-popular leadership of Freelancer.

 

[D. Wells]

Yeah, I personally wouldn't use ANYTHING Freelancer owns...

 

[Weber]

No wonder it's taking so long for them to pay me.
They had to sell the company to cover the check.

 

[dollarfield]

That is definitely not good news. Freemarket is not developed fully yet but Freelancer has already put in place costly monthly subscription options. The move appears to have been made to exert monopoly on domain market.

 

[tomcarl]

This was a helluva deal for Freelancer. The domain alone could've been sold for around that amount as mentioned before.

Could've been worse though, Escrow could've been acquired by eBay or G. And this could be good news though seeing how they've been trying to model themselves as a free/lowest cost market, if they expanded E into parking, now that would be very interesting...

 

[enterscope]

Must be more to it than that... Escrow.com is a super premium domain. I see escrow services only getting more necessary as online business gains momentum in this mobile-friendly society.