NameSilo

GoDaddy cannot secure $31,500 for WeUseCoupons.com NameJet gets the score

Labeled as news in Domain Expiration and Domain Drop Catching, started by equity78, Oct 20, 2020

Replies:
10
Views:
1,055

  1. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

    Posts:
    15,684
    Likes Received:
    20,449
    WeUseCoupons.com was a website that started up in 2008. Company Overview: Here at WUC, we are all about coupons!! We are an online community full of people who use coupons and discuss when and where to use them. We hope and encourage you to take part in the conversation. If you have a question, join […]

    Continue Reading
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. NickB

    NickB Wales.org VIP

    Posts:
    3,992
    Likes Received:
    8,427
    With that backlink profile - Someone got an absolute bargain there.......
     
  3. Mytz.com

    Mytz.com Top 4L [email protected] ieie.com CuTu.com NeSu.com KKiK.com VIP Gold Account

    Posts:
    6,654
    Likes Received:
    819
    So this is an individual creation, right?
    Or was it created by the company?
     
  4. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

    Posts:
    15,684
    Likes Received:
    20,449
    Yeah it's a nice profile, cited in a lot of places in a niche associated with making money. $31,500 was probably too high but GoDaddy should get these payments. Worth going down the bid road.
     
  5. NickB

    NickB Wales.org VIP

    Posts:
    3,992
    Likes Received:
    8,427
    Seen quite a few of your blogs on Godaddy letting domains go, just the tip of the iceberg surely - must be loads going unreported

    Would be interesting to see a year end figure on the amount lost, pretty sure it would be a substantial amount.
     
    Last edited: Oct 20, 2020
  6. DomainRecap

    DomainRecap Top Contributor VIP

    Posts:
    4,155
    Likes Received:
    3,494
    I am certain that at least some of these "losses" are manipulated ones, either from end users or from the drop catchers themselves. If GD doesn't close this loophole fast, then it will be abused into oblivion.

    I have said this before, but GoDaddy's primary business is as a registrar, so their system is designed to treat a $10 hosting package using the same basic business process as a $31,000 auction win, and that's absolutely wrong. These extended 30-day payment schedules and laissez faire attitudes towards buyers actually paying need to end, now.

    This is not a $10 domain, it's a $31,000 digital property and this type of transaction requires far more skill and attention than chasing someone for a $5 hosting bill.

    Split the business units apart between registration/hosting and domain auctions, then create a totally new and far more relevant set of business processes for domain auctions, then assign the appropriate staff, time, and effort to these tasks. No way in hell a $31K sale should get away without selling it to someone down the chain.
     
    Last edited: Oct 20, 2020
  7. NickB

    NickB Wales.org VIP

    Posts:
    3,992
    Likes Received:
    8,427
    Totally agree about the sale staying in house.....

    What is the process when the highest bidder does not pay? Do they contact the second or third highest bidders etc afterwards or do they just let it go?

    According to their earning reports they keep the hosting and domains separate:

    Second quarter earnings report below

    • Domains revenue of $369.6 million, up 10.5% year over year.
    • Hosting and presence revenue of $292.2 million, up 4.4% year over year.

    Just seems like they have bad business practices when it comes to non paying auctions......something they need to sort out......

    Edit:

    They have a Vice President of domains at Godaddy & a SVP of hosting - this shows that they have 2 departments with separate decision makers who make the business calls
     
    Last edited: Oct 20, 2020
  8. DomainRecap

    DomainRecap Top Contributor VIP

    Posts:
    4,155
    Likes Received:
    3,494
    Sure, on the accounting documents, but their business processes seem to be the same whether it's a $5 hosting plan or a $50,000 domain auction.

    Most companies separate out the revenue/expenses, profit/loss, and earnings out for each business unit, but it's just a method of reporting, not a true division between separate business entities.

    Separate departments mean nothing when the vast majority of their business takes place through a single godaddy.com online portal, a single account for everything, and virtually the same business processes for all products. GoDaddy is the opposite of decentralized and is instead, very highly integrated.

    The problem with GD is that they're probably making so much money that the boys upstairs don't feel the need to get the auction section under control.
     
    Last edited: Oct 20, 2020
  9. DigitalRoar

    DigitalRoar Investor & Creator VIP

    Posts:
    1,100
    Likes Received:
    1,035
    Good. That's one more thing GoDaddy couldn't get their greedy hands-on :singing:
     
    Last edited: Oct 22, 2020
  10. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

    Posts:
    15,684
    Likes Received:
    20,449
    Probably not going unreported Nick, these come about as @Michael documents the GoDaddy close and then I report on the names where DropCatch or NameJet ended up getting the name a few weeks later. There have been a few smaller ones I don't write like a $300 sale and there are no other sales to report on that day.

    The process of going to the next bidder is not consistent. Joe Styler said they don't always go to the next and the next.
     
  11. Al Cohol

    Al Cohol Established Member ★★★★★★★★★★

    Posts:
    165
    Likes Received:
    242
    That is bizarre. I always assumed if the domain was not paid for by the original winner, it would be offered to the 2nd, 3rd, 4th bidder and so on.

    So many of these strange issues surround this company. Looking forward to the day when GoDaddy takes their Auction and Investor platforms seriously.
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
Topics / Tags:
NameWorth
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...