The sale of Russia.com marks the second highest geo domain sale to date, behind the sale of Korea.com for $5 million back in 2000.
Sedo, the leading online domain marketplace and monetization provider, today confirmed that it has brokered the sale of Russia.com for $1.5 million, the second largest Geo domain sale to date. Sedo brokered the sale on behalf of Seattle-based Paley Media, a web design, publishing, and technology company that actively manages an online network of 11 high profile geo domains and six enthusiasts websites. This marks Sedo’s highest ever geo domain sale, as well as the biggest sale of the year in its category. The highest public sale on record, industry-wide, is Korea.com, which was sold for $5 million in 2000.
“Geo domains are in high demand because of their unique nature - there is no substitute,” said Gregory Paley, CEO of Paley Media. “Even when sold without content, as was the case of Russia.com, a geo domain name by itself holds tremendous value because it lends itself to a number of lucrative business models.”
Traditionally, geo domains have been purchased by media companies and tourism boards. Today, other business models have emerged and these virtual assets are being used as highly visible brands by social networking, travel, and e-commerce companies.
“Geo domains have always been a very strong investment in the domain industry for a variety of reasons, “ said Kathy Nielsen, Director of Sales at Sedo. “They hold enormous potential for development. In addition, there are many solid and proven business models, and local online advertising is in a growth stage. All the pieces are aligned for the makings of a very successful business.”
“Thanks to the stellar performance of Sedo, its top-notch brokerage team and their work with global leaders from various industries, we were able to smoothly bring the Russia.com asset to the global marketplace and secure the highest bid from the most suitable buyer,” said Paley. “Overall, Sedo has surpassed my expectations, and I look forward to continuing my collaboration with the company to deliver more high quality geo domains to businesses and individual investors.”
With the successful sale of Russia.com, Paley Media is entrusting Sedo to broker additional premium geo domains on the company’s behalf, including PuertoRico.com, SouthAfrica.com, Morocco.com, Scotland.com and Nepal.com. These geo domains are currently listed at www.Sedo.com/Geo, along with a selection of additional geo assets including (but not limited to) Sweden.com, Belgium.com, Dusseldorf.com, Guinea.com and VaticanCity.com.
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