Blockbuster domain deal for $4MM cash plus equity stake just closed escrow

Rick Schwartz

Rick Schwartz has just tweeted that the agreement to sell the domain names Property.com and Properties.com for $4MM USD plus equity stake in the buyer’s new company, closed escrow.

Minutes ago Rick posted the following message to his Twitter page on @DomainKing: “Property.com and Properties.com closes via Escrow.com. Transaction took 3 weeks from start to finish and initiated via Linkedin contact.”

Both domain names are hidden behind Domains by Proxy, Inc, a Whois privacy service provided by Go Daddy.  Up until yesterday, both names were registered to Rick Schwartz and his eRealEstate.com.  Here’s a look at the Whois records which were updated in the last 24 hours:

Registrant:
   Domains by Proxy, Inc.
   DomainsByProxy.com
   15111 N. Hayden Rd., Ste 160, PMB 353
   Scottsdale, Arizona 85260
   United States

   Domain Name: PROPERTIES.COM
      Created on: 19-May-97
      Expires on: 15-Jul-21
      Last Updated on: 15-Jul-11

   Domain Name: PROPERTY.COM
      Created on: 11-Feb-94
      Expires on: 15-Jul-21
      Last Updated on: 15-Jul-11

The $4MM sale for the pair of names makes it one of the biggest publicly reported sales of 2011.  The single domain name social.com sold earlier this month for $2.6MM.  In 2009, Rick Schwartz (aka the ‘Domain King’) also sold candy.com for $3MM.

The blog DomainGang was the first within the domain industry to report the news of the impending sale on July 4th after spotting the story on Stardom.  Rick Schwartz had also tweeted news of the deal.

(Photo of Rick Schwartz (left), Rick Latona, and Howard Neu at TRAFFIC 2009 via RicksBlog.com)

0 comments