.com Fitbit bought their .com domain for $2000

[pooky]

The company's market cap is $1.2 billion currently.
Article from 2015: http://fortune.com/2015/07/14/fitbit-ceo-james-park/

"We bought the name ["Fitbit"] for about $2,000 from some guy in Russia. I said, 'How much do you want?' And he said, '$10,000.' I said 'How about $2,000?' And that was that."

Park reflected for a moment and then marveled at his good fortune: "Hmm. He probably could have gotten equity."

 

[Doron Vermaat]

Thanks for sharing. In all honesty, $2,000 was a fair price for this type of domain.

 

[pooky]

Thanks for sharing. In all honesty, $2,000 was a fair price for this type of domain.

I agree. Not exactly a million dollar domain. The domain owner had no way of knowing where the company would go.

But this just goes on to show the importance of the equity angle when selling your domains.

 

[Fuadiansyah]

Agreed with @Doron Vermaat , 2k still a fair price for such a domain considering at that time they're still a startup. The domain name value, especially the .com, will increase as the brand getting recognized by many people.

That's why while a company still on its early phase, they need to acquired their exact .com, not the other.
I think the story would be different if they start with fitbit.co or maybe fitbit.io, the price of the domain .com will be highly inflated when they try to acquire it. So, it's a good decision by the management acquiring their .com at first place