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The sale of the domain name Social.com closed this week for USD $2.6 million, setting the record for reported 2011 domain name sales. Marksmen, Inc.’s domain sales arm, NameQuiver, co-brokered the sale at the Moniker premium domain auction held at the recent DOMAINfest® Europe event in Barcelona, Spain. The sale was widely anticipated by domain name industry veterans, who correctly predicted an impressive price for the name.
Brokers considered Social.com a category-defining domain name at a time when social media has become the single largest growth sector on the Internet. “The sale of Social.com undoubtedly represents marketing millions,” said Cyntia King of NameQuiver, who helped engineer the sale.
To facilitate the sale, Marksmen was able to combine its expansive list of client contacts built over the last 13 years as an industry leading intellectual property investigation company with the auction marketing and sales expertise of Moniker and SnapNames to create massive interest in the domain. Industry media coverage intensified when the auction was switched to an online, rather than live, event.
The final sale, to an undisclosed buyer, was negotiated privately after an initial multi-million dollar offer. “We’re very pleased with our partnership and Moniker’s ability to attract a buyer for Social.com, culminating in this successful outcome,” said Ken Taylor, CEO of Marksmen, Inc. “We look forward to continuing to use our unique position in the industry to connect premium domain names to our clients and other end-users via auctions and private brokering.”
Founded in 1998, Marksmen is a world leader in IP protection services, including trademark clearance and enforcement investigations, determining business method patents and processes, establishing and locating prior art, due diligence, worldwide on-ground investigations, litigation support and Internet related infringements. Additionally, Marksmen negotiates for the purchase or sale of IP rights internationally and monitors the Internet for both Web content and domain name registrations.