parking The unhappy decline of Oversee.net

[SpareDomains]

Lawsuit reveals details on the company’s deal with Oak Hill and its subsequent fall from prominence.

Oversee.net was once a high-flying darling of the domain name industry. It was rolling in dough–over $200 million a year in revenue at one point. It threw lavish parties for its clients, taking them to the Playboy Mansion in Los Angeles and to shoot AK-47s in Prague.

But the story has an unhappy ending. While we already knew some of the story about the company’s fall, including the precipitous decline of domain parking that hurt its DomainSponsor business and its ill-advised purchase of SnapNames, Domain Name Wire has uncovered new revelations thanks to a lawsuit filed this year.

Oversee.net co-founder Frederick Hsu, through the Frederick Hsu Living Trust, sued Oak Hill Capital Partners and many former board members and executives earlier this year, alleging (pdf) that they undertook a campaign to sell off the company’s productive assets to “tunnel” money to investor Oak Hill.

To understand the allegations, you need to understand the history of Oversee.net. Click here to continue reading…

 

[HeyNow]

Lawsuit reveals details on the company’s deal with Oak Hill and its subsequent fall from prominence.

Oversee.net was once a high-flying darling of the domain name industry. It was rolling in dough–over $200 million a year in revenue at one point. It threw lavish parties for its clients, taking them to the Playboy Mansion in Los Angeles and to shoot AK-47s in Prague.

But the story has an unhappy ending. While we already knew some of the story about the company’s fall, including the precipitous decline of domain parking that hurt its DomainSponsor business and its ill-advised purchase of SnapNames, Domain Name Wire has uncovered new revelations thanks to a lawsuit filed this year.

Oversee.net co-founder Frederick Hsu, through the Frederick Hsu Living Trust, sued Oak Hill Capital Partners and many former board members and executives earlier this year, alleging (pdf) that they undertook a campaign to sell off the company’s productive assets to “tunnel” money to investor Oak Hill.

To understand the allegations, you need to understand the history of Oversee.net. Click here to continue reading…

Great news story, and kudos to SpareDomains for bringing it to our attention. Gee willikers, you might think such an interesting, relevant, current, and important story would be front and center at websites that try to tell you and I that they are all about domain industry news. You know, like DNJournal.com, proclaiming itself to be, "The Domain Industry News Magazine." I don't recall seeing this story there at all. Do you? Come to think of it, I don't remember seeing the current Adam Dicker story there either. Do you?

Good ol' Ron Jackson sure knows how to tell a joke! I've heard that readership there is in the toilet, but I have no way of truly knowing. But if it is, I can surly understand why.