Oversee.net buys SnapNames
And here’s the news of the day, possibly of the year. Oversee.net, the parent company of DomainSponsor has purchased Snapnames today for an undisclosed sum. Big news, even a bit bigger because of the eNom (owned by Demand Media) deal reported on earlier.What’s next? Will they go public next year, or even later this year?
According to Frank Schilling, the rumour on the street is that the price was $25 or $50 Million USD.
As predicted, consolidation is and remains a major topic for the year - let’s see what the rest of the year brings. And the effects of this sale are going to be interesting as well - especially since Oversee.net owns it’s own domain portfolio. So will this affect which names go to auction and which ones don’t? At this point we can just wait and see.
Congratulations to both companies.
[via email/Seven Mile/DomainTools Blog]
[...] (Fuentes base: DomainEditorial y Frank Schilling) [...]
I’m with you Frank, not keen on oversee.net controlling which domains actually go to auction.. but would I buy stock in this company if they went public?
um, yes. a lot probably.
[...] Snapnames, recently acquired by Oversee.net, will become a live domain auction player. As per today’s press release, they will debut SnapNames Live, a live auction system for premium domains, at DOMAINfest Globals Hollywood, California event in January 2008. The Domainfest event is organized by Domainsponsor, which also is owned by Oversee.net. In partnership with DomainSponsor, the producer of DOMAINfest Global, SnapNames Live will conduct a themed, premium auction each day of the conference, rather than a single monolithic event. [...]