I am Doron Vermaat, co-founder of Efty, Ask Me Anything!

[Doron Vermaat]

Hey NamePros

My name is Doron Vermaat. I am a co-founder of Efty and have been a domain name investor since 2012.

I have also been an active member of the forum before, but it's been a while!

I am back and looking forward to actively participating again in this community in both a professional capacity, representing our company and as an investor, talking about domains and the aftermarket.

Ask me Anything!

 

[Sutruk]

Seller verification is done by our payment processor, MangoPay.

What made you choose MangoPay over other payment processors like Adyen (Dan's payment processor)?
They are even from the Netherlands.

Thanks

 

[Recons.Com]

What made you choose MangoPay over other payment processors like Adyen (Dan's payment processor)?
They are even from the Netherlands.

Thanks

The power of branding! "Man, Go Pay!" sounds way better than Japanese Currency Commercial.

 

[Bravo Mod Team]

"Man, Go Pay!"

Only a true domainer could see that in MangoPay.

 

[zotix]

Welcome (back) @Doron Vermaat looking forward to follow this Thread =)

 

[zotix]

What made you choose MangoPay over other payment processors like Adyen (Dan's payment processor)?
They are even from the Netherlands.

Thanks

Actually, yes, Adyen is NL based and also used by DAN.

They are very safe & have a strong reputation + good fraud prevention (implemented), and as a PROD user, you can also adjust many rules by pattern.

I would also join this question =) Thanks @Sutruk

They might not be the cheapest, but they are easy to implement; support is very good, and ultimately, they block a ton of fraudulent activities.

Kind regards,
zotix

 

[MariaEl]

Only a true domainer could see that in MangoPay.

So proud I did see it yesterday, before @Doron Vermaat mentioned it (and after first impression, which reminded me of the tropical fruit).

 

[jberryhill]

How come nobody has given this clown a permaban yet?

Clown? Clown?

Doron, would you be so kind as to identify the town in which these distinguished townfolk are having a meeting:

I would like to point out to anyone who has seen my various rants on the topic of "parking or for sale landers" from the perspective of potential domain/trademark issues, that Efty provides the best solution in the business for the sort of "sales pitch sales lander" that I have been ranting about.

In short, a domain name consisting of or containing a generic word like "monster" might be taken as a reference to scary creatures, or a trademark for an energy drink. So, a lander for a domain name like "monster.tld" should be more than just "this domain for sale, make offer" etc.. Instead, the page might contain a Halloween-themed graphic and promotional text to the effect that it would be a good name for costumes, big trucks, scary movies, and so on.

That sort of approach makes it clear, in the event of a trademark dispute, that the perceived value of the domain name is based on its dictionary, descriptive, geographic, etc. meaning, and not its incidental correspondence to a limited trademark.

These customizable features of Efty landers are described here and in other support articles at the site:

https://support.efty.com/article/80-format-type

Choose “Fully Sized” if you want to display a detailed description of your domain name, USPs (Unique Selling Points)

I receive no compensation from this cheap bastard to promote his business - but I believe he has the best lander solution in the business, bar none.

Of course, people should think about the types of places where their money is going...

...endless debauchery and feral children...

 

[MariaEl]

I receive no compensation from this cheap bastard to promote his business

I was unsure about context for your and his comments, but I guess it is friendship, isn't it?

 

[Doron Vermaat]

I was unsure about context for your and his comments, but I guess it is friendship, isn't it?

John is by far my favorite clown in this circus

Of course, people should think about the types of places where their money is going...

It's true folks. Efty Pay is actually the official drinks sponsor for this annual event.

 

[Doron Vermaat]

What made you choose MangoPay over other payment processors like Adyen (Dan's payment processor)?
They are even from the Netherlands.

Thanks

Great question and something we spend a lot of time on.

We compared all the major ones, including Adyen, and many smaller and upcoming payment processors. We rated them based on more than 25 selection criteria, from the number of supported payment methods for buyers to multi-currency support to business continuity, and in the end, MangoPay came out best in the Solution selection matrix.

Unfortunately, as an EU-based aftermarket player, Efty has to comply with much stricter rules and regulations than our US-based competitors, so finding a partner that is fully compliant with EU regulations was also a key requirement.

Efty Pay is developed to enable us to "plugin" other or multiple payment processors with relatively low effort in the future. This allows us to make changes or offer more flexibility around payments and/or payouts when we see fit.

 

[zotix]

Great question and something we spend a lot of time on.

We compared all the major ones, including Adyen, and many smaller and upcoming payment processors. We rated them based on more than 25 selection criteria, from the number of supported payment methods for buyers to multi-currency support to business continuity, and in the end, MangoPay came out best in the Solution selection matrix.

Unfortunately, as an EU-based aftermarket player, Efty has to comply with much stricter rules and regulations than our US-based competitors, so finding a partner that is fully compliant with EU regulations was also a key requirement.

Efty Pay is developed to enable us to "plugin" other or multiple payment processors with relatively low effort in the future. This allows us to make changes or offer more flexibility around payments and/or payouts when we see fit.

Thank you very much for the answer
Sounds like you have made good thoughts on it.
Regarding the multi-currency topic and payment methods, for example, for your market, iDEAL (without advertising Adyen) operates globally and, as far as I remember, was one of the first PSPs to provide ApplePay. Actually, every compliance-related checkout page could be adjusted. Their API Documentation is straightforward and supports answers within 24 hours, maximum. Even the Account Managers are always responsive.

But that doesn't mean that there is a right or wrong, i appreciate your answer to this question - And if MangoPay is (as far as I know) extremely customizable, it would be a good thing for an Aftermarket.

Anyway, Mangopay offers those things as well. They are focused on Platforms and have nice features like Splitpay and Escrow, which makes them attractive for your Business.
And the option to dock on other payment systems (like PayPal i guess), is a good decision

Thanks for answering! Much appreciated

Mustafa

 

[Springs77]

@Doron Vermaat Would be great if we had a "pause subscription" button instead of only cancel/delete. Sometimes people just want to take a break for a month or two.

 

[D Haynes]

We hear you. We have created a "Starter" plan allowing you to manage up to 500 domain names for $25/month or $240/year. This plan is not (yet) available on the site or within the app, but if you have or create an Efty Investor account, you can email us at [email protected] with the request to use this plan, and we will ensure we upgrade the subscription for you!

FYI - the pricing is different on different pages of your site. One has it at 18 - 36 and another has it at 15 - 30 for the lower subscriptions.

 

[MariaEl]

FYI - the pricing is different on different pages of your site. One has it at 18 - 36 and another has it at 15 - 30 for the lower subscriptions.

Hi,

The difference is between billing term options: the first you mention is the "bill monthly" plan, the latter is "bill yearly".

 

[Kyle Tully]

Hey NamePros

My name is Doron Vermaat. I am a co-founder of Efty and have been a domain name investor since 2012.

I have also been an active member of the forum before, but it's been a while!

I am back and looking forward to actively participating again in this community in both a professional capacity, representing our company and as an investor, talking about domains and the aftermarket.

Ask me Anything!

Hey Doron

How has the data you have access to via Efty shaped your own domain investments?

Cheers
Kyle

 

[D Haynes]

Hi,

The difference is between billing term options: the first you mention is the "bill monthly" plan, the latter is "bill yearly".

Yes I see that now thanks although I would say the pricing formats should be the same on all pages to avoid confusion by simples like myself lol.

 

[Doron Vermaat]

@Doron Vermaat Would be great if we had a "pause subscription" button instead of only cancel/delete. Sometimes people just want to take a break for a month or two.

Currently, users can email us, and we can cancel a subscription while keeping the account and its data stored for a while. Users can then reactivate their account at any given time by subscribing to a new plan.

Hey Doron

How has the data you have access to via Efty shaped your own domain investments?

Cheers
Kyle

Efty has strict governance, meaning Efty staff, such as myself, cannot access sales data. This means our users can be rest assured their data is for their eyes only. It's one of the benefits of paying for a service. At Efty, your data is not the product.

Through Efty, I have made some terrific friends who are domain name investors, many of whom I chat with weekly. Their advice and sharing mainly shape my domain name investment strategies.

I welcome more questions about my journey as a domain name investor since most of the questions now seem to be about Efty. This is an AMA (with the last A standing for ANYTHING), after all

 

[Future Sensors]

I welcome more questions about my journey as a domain name investor since most of the questions now seem to be about Efty. This is an AMA (with the last A standing for ANYTHING), after all

Okay, I'll start the AMA.

In jour journey as a domain name investor, do you currently list your domains on other marketplaces than Efty, as well? What points do you consider most important when choosing a platform to list your domains?

This is not about Efty.

 

[Kyle Tully]

Efty has strict governance, meaning Efty staff, such as myself, cannot access sales data. This means our users can be rest assured their data is for their eyes only. It's one of the benefits of paying for a service. At Efty, your data is not the product.

Through Efty, I have made some terrific friends who are domain name investors, many of whom I chat with weekly. Their advice and sharing mainly shape my domain name investment strategies.

I welcome more questions about my journey as a domain name investor since most of the questions now seem to be about Efty. This is an AMA (with the last A standing for ANYTHING), after all

Ah interesting, I thought you at least might have access to aggregate data based on TLD, domain length etc.

 

[zotix]

Ah interesting, I thought you at least might have access to aggregate data based on TLD, domain length etc.

But this is quite normal in corporates, especially in Europe, but applies worldwide.,
Compliance Level: At some carrier stage, you even have to submit your whole investments to the company to avoid interest conflicts, insider trading, etc.
I assume the same goes for Domains.
There is just a little Team with the highest Compliance Level, who are monitored, and i think - dont get me wrong - @Doron Vermaat, you might not have this compliance level since on an operational level, you dont have to care (coming from your role), about that stuff. So, in other words, There is no need for you to look on an account level basis; that's why you might not get any insider compliance level, which might be the highest.

Just my 2cents

Mustafa

 

[Doron Vermaat]

Okay, I'll start the AMA.

In jour journey as a domain name investor, do you currently list your domains on other marketplaces than Efty, as well? What points do you consider most important when choosing a platform to list your domains?

This is not about Efty.

I primarily eat my own dog food (Efty), but we need to keep a finger on the pulse of what is happening in the aftermarket. It's the best way to keep improving Efty in the end. The benefit of my being a domain name investor is that we have constant exposure to our competition because I list and sell domain names in places other than Efty, too. The only marketplaces I no longer bother with are brandable marketplaces such as BrandBucket and Atom. I'm not too fond of others telling me which domain name I can or cannot list, or for what price I can list them, the cumbersome process of descriptions and logos, and the gamification these sites use to create stickiness among sellers. Also, their commissions are too damn high

For investors with inventory-quality domain names (the kind that usually sells in the $2,500 to $5,000 price bucket), I believe it's important to list with a service that distributes your names into the registrar path with the major registers. GoDaddy's Afternic is the obvious one, but there are good reasons to consider Sedo for that same purpose instead.

Ah interesting, I thought you at least might have access to aggregate data based on TLD, domain length etc.

We do have that data on domains that are publicly listed on Efty.com, but anyone using Efty Investor can opt out of listing their name on the Efty.com marketplace.

 

[Bravo Mod Team]

John is by far my favorite clown in this circus

I welcome more questions about my journey as a domain name investor

Questions about you and your journey:

1. How did you end up in this circus that we call the domain industry? What's your origin story?
2. What was the first domain name that you fell in love with and subsequently were able to acquire?
3. What's the most amount of money you've ever paid for a single domain name only?
4. What's your biggest sale amount to date for a single domain name only?
5. What's your typical day look like from the moment you wake until you go to sleep?
6. Why did you decide to develop a product instead of just invest your money into domains? *

* All public investors to date (except maybe Frank Schilling) have learned the hard way that they would've earned much more money had they stuck to buying and selling domains instead of development. Many investors have dipped their toes into development and share this sentiment: Rick, Andrew, countless brokers, etc.

Edited to add more questions.

 

[MariaEl]

I welcome more questions about my journey as a domain name investor since most of the questions now seem to be about Efty. This is an AMA (with the last A standing for ANYTHING), after all

I might be wrong, but there seems to be some people interested in Efty as an option that are taking this opportunity to learn about it beforehand. Perhaps it would be good to open an "official Efty.com" thread here on NamePros.

 

[Doron Vermaat]

Questions about you and your journey:

1. How did you end up in this circus that we call the domain industry? What's your origin story?
2. What was the first domain name that you fell in love with and subsequently were able to acquire?
3. What's the most amount of money you've ever paid for a single domain name only?
4. What's your biggest sale amount to date for a single domain name only?
5. What's your typical day look like from the moment you wake until you go to sleep?
6. Why did you decide to develop a product instead of just invest your money into domains? *

* All public investors to date (except maybe Frank Schilling) have learned the hard way that they would've earned much more money had they stuck to buying and selling domains instead of development. Many investors have dipped their toes into development and share this sentiment: Rick, Andrew, countless brokers, etc.

1. In 2006, I co-founded an employment website for the Greater China region. That company didn’t succeed and was shut down four years later.

The domain, which we stupidly had administered by our web development company, was neglected and ultimately expired from Network Solutions around 3.5 years ago. I wanted to relaunch the site, so I researched how to gain ownership of the domain again once it dropped.

This led me to NameJet, where all the expired inventory from NetSol is being auctioned. At NameJet, I learned about the domain name aftermarket, drops, and auctions. That month, I won the auction for the NewChinaCareer.com domain name but also started bidding on several others that caught my eye. I was hooked right away.

2. I don't get emotionally attached to domains for my investment portfolio. But occasionally, you manage to acquire a name that really resonates with you or a term that has sentimental or nostalgic value. Some examples of these are MovingUp.com, which I acquired early on and resonated with me in my journey as a domain name investor. More recently, I managed to pick up PlantParent.com—a name I like because, well, I love plants!

3. $25,000 is the most I've spent on a single domain so far.
4. $82,000 is my biggest sale so far.

5. I start my day looking after the kids, who are eight and two, making them breakfast and prepping them for the day. I also walk our dog. She's old now (17 years old), so it's a short stroll these days. Then, I usually sit down for an hour to review emails and customer support tickets for Efty. I don't have a set routine for the rest of the day. If the weather is nice, I may spend a few hours in the garden or run first. I spent many years in sales and business development, during which my days were dominated by a calendar full of meetings. These days, I usually say no to calls and meetings unless they are with the team at Efty. As a result, my calendar is pretty much empty these days, so there's little distraction. I usually go to our office for a few hours, where I work on Efty Pay and my NameRockstar business. I work out every day; on days I do not run, I go to the gym to do calisthenics or weights. I love to follow that up with a nap when I can, and if I am lucky, I wake up to a domain sale

Most days, I am back home somewhere in the afternoon to spend more time with the kids or help out with cooking. Once the kids are in bed, I often work for another 2 or 3 hours, then I go to bed between ten and eleven.

6. I would be bored quickly if I only had an investment portfolio to manage. I was a founder of a job board business before, and when that adventure ended, Lionel, my co-founder, and I were looking for the right idea to start a business. We’re long-time friends and thought that building a business together would be a great “excuse” to travel and see each other more often since I moved from the Netherlands to Hong Kong several years earlier. So when I came up with the idea for Efty, Lionel hopped on a plane to Hong Kong right away, and a few months later, we launched an early beta of Efty. Sometimes folks think it's easy what we do with Efty - "it's just a landing page," etc - It took many years and a massive investment of time and resources before Lionel and I could pay ourselves a salary from the business and bring on more people such as Patrick Kosterman who joined as our CTO and has taken ownership of building our Efty Pay We have seen many competitors of Efty come and go over the years. Turns out it is not that easy.

 

[Doron Vermaat]

I might be wrong, but there seems to be some people interested in Efty as an option that are taking this opportunity to learn about it beforehand. Perhaps it would be good to open an "official Efty.com" thread here on NamePros.

A few Efty threads have been created over the years. Perhaps mods can help merge these into one "official" Efty thread. We aim to participate actively in the forum again, and a dedicated thread would be a good start!