There are definitely easy ways to buy a domain name. Purchasing one from a large corporation is not one of them.
We learned this the hard way while trying to buy
Plateful.com from a massive food company that, (for a surprisingly loooonng time), didn’t seem to know it owned the thing.
We were working with a startup called Plateful, and had helped them originally to secure
Plateful.co. Getting the .com was always the end goal.
The problem was that
Plateful.com had been sitting inside a huge domain portfolio inherited through an acquisition, somewhere inside a corporation large enough that figuring out who actually controlled it became a project of its own.
After months of emails, redirects, and corporate-domain archaeology, we finally reached a guy named “Mike” in Legal & Corporate Affairs.
Mike was a champ. He agreed to track down the right people, and eventually we got connected with the marketing team.
So we made an offer: $25,000 for
Plateful.com.
Then, we got a totally unexpected response. The marketing team said “they” weren’t interested in ACQUIRING
Plateful.com.
We were like, “Wait, whaaaaa??”
We just told YOU that we want to BUY the domain from you, and you think we’re trying sell it to you?? Yeeeesh….we knew this was going to be a long ride.
Once everyone was on the same page, the company confirmed that, yes, they did own
Plateful.com.
And then they told us what they thought it was worth.
$850,000.
At this point, you might assume the story is about an absurdly expensive domain and a company that finally realized what it had sitting in its portfolio.
It gets better.
They sent us research explaining their valuation, and some of the material looked awfully familiar. They had found our own content about domain valuations and were now using it to make the case for why we should pay them more.
Using our own blog posts against us is honestly pretty good.
Fortunately, we didn’t pay $850,000. After some more back-and-forth, we eventually acquired
Plateful.com and the defensive typo domain
Platefull.com for $87,500.
Nine months of trying to find the person who knew they owned the domain, followed by an $850,000 valuation supported in part by our own advice about what domains are worth.
Buying domains is weird.
That’s why we love it.
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