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Notarize.com purchased for $42k

Labeled as domains in Domain Industry News, started by Michael Daigle, Aug 7, 2020

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  1. Michael Daigle

    Michael Daigle Upgraded Member Gold Account

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    It was disclosed during Dan Martell's interview with Patrick Kinsel, CEO and founder of Notarize, paid $42k for the domain name Notarize.com.

    Kinsel mentions during the interviews about being an active domain buyer. Has an interesting flair when it comes to negotiations (see below).

    Changing State Laws with Patrick @ Notarize.com - Escape Velocity Show #27

    Patrick Kinsel talks about domaining for about 5 minutes starting at the 14-minute mark. Here's a recap on that subject:
    - Mentions that he could have purchased Kinsel.com while in college, but failed to pull the trigger. Had to settle on the dot org.
    - Talks about the #1 issue when buying domains is that many sellers aren't serious in selling or they set unrealistic pricing.
    - Reached out to five owners of massive domain catalogs, told them he had raised $2.5m and shared the general concept of his product which would eventually become spindle.com. Very upfront with sellers to show he's a serious buyer and determines whether the seller is serious in selling the domains. Kinsel says during the interview that he paid 40-45k for spindle.com.
    - Tried to buy mix.com, but the seller wanted a $1m.
    - Says he paid $42k for Notarize.com and purchased from a private equity company. Kinsel provided more details during a VentureFizz interview back in 2019, indicating that he purchased Notarize.com through a domain broker (I think Boston area) tasked with selling domains in a large portfolio recently acquired by a private equity deal. Broker asked for $60k, he countered at $20k and settled around 35-40k. Says negotiations spanned just a couple of days.
    - Talked about creative options when buying domains -- generally not a fan of lease-to-own agreements -- prefers offering a fixed price payment for 5-10 years use, and then a much larger balloon payment if he decides to keep the domain. Finds that type of arrangement gets the conversation started, eventually leading to a sale. He provides an example.
     
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  2. Mytz.com

    Mytz.com Top Contributor VIP Gold Account

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  3. Soofi

    Soofi Punjab, India PRO VIP ★★★★★★★★★★

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    this is good share.. and quite a few learnings right there :)
     
  4. pb

    pb Established Member ★★★★★★★★★★

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    So domain rent with a buyout option at a guaranteed price, I have a few of those going on and they're really nice.
     
  5. Soofi

    Soofi Punjab, India PRO VIP ★★★★★★★★★★

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    "option" is where/why I will probably chicken out for such deals, without a guaranteed buyout, due to various reasons of my own.
     
    Last edited: Aug 9, 2020
  6. Rahul Bhalawat

    Rahul Bhalawat New Member

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