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HOT TAGS:, Holy Grail of Domains, Sold for $13 Million

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And now for your requisite story involving sleaze and the sleazeballs who sell it.—long considered the Holy Grail for domain purveyors—has been sold to Clover Holdings for $13 million. After considering the “highest and best offer,” the current bankrupt (both financially, and obviously spiritually) owner, Escom LLC, agreed to part ways with its prize possession.

The history of is as tainted as you’d expect.

It was originally registered by Gary Kremen (who’s name just feels dirty) before being stolen by convicted conman Stephen Cohen. Cohen fled to Mexico whilst Kremen (ew…) tried to get the domain back in court. The story goes that Kremen (ugh….) may or may not have put a hit on Cohen, the court finally awarded Kremen (enough!) the domain name plus $65 million, and Cohen was jailed.

In 2006, Kremen sold the domain to Escom for $12 million.

In a feat so stunning in its complete lack of business acumen, Escom was unable to make profitable. Hence the bankruptcy. Hence the sale.

All told, Escom has pocketed only about $1 million bucks on its investment.

Which just goes to show you, sex does sell, but it doesn’t always mature.
POSITION:  No positions in stocks mentioned.
TAGS:  SEX, SEX.COM, DOMAINS    SOURCE:   The Washington Post