This episode features Derek Jeter, a prominent figure in URL purchases, diving into the captivating world of domain sales. The discussion highlights the misadventures of acquiring longform.com, revealing the drama behind its bidding war and dubious offers. Listeners learn about the complexities of domain valuation, including insights from domain marketplace experts. The episode uncovers the unpredictability of online asset transactions and the significant role domain names play in brand protection, making it a thrilling listen for anyone intrigued by digital real estate.
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Quick takeaways
The pursuit of acquiring Longform.com reveals the high stakes of domain purchasing, where inflated prices can arise from market dynamics.
Max and Aaron's misadventures illustrate the complexities and potential pitfalls of domain negotiation, including the risk of scams and miscommunication.
Deep dives
The Quest for Longform.com
A significant pursuit centers around the desire to acquire the domain Longform.com, which has been sitting unused while the co-founders of Longform.org attempt to negotiate its purchase. Max Linsky has consistently made offers via fake email accounts feigning interest, only to receive a constant asking price of $30,000. This process took an unexpected turn when Aaron Lamer mistakenly contacted the domain owner using his official email address, leading to an alarming and unsolicited lowball offer for their own domain, Longform.org. The subsequent communication suggested potential foul play as the duo grappled with suspicions over the legitimacy of the low offer while also feeling the pressure of possibly losing their own domain.
The Bidding War Escalates
Following the unexpected low offer, a bidding war ensued between Max and Aaron and the mysterious owner of Longform.com, Michael Birkin's Esquire. The original asking price escalated rapidly beyond their initial limits, eventually climbing toward $25,000, which raised significant alarm for the co-founders about what might happen if the domain fell into the wrong hands. Given the stakes, there was considerable anxiety over the potential for a competitor to take ownership of Longform.com and create confusion in the marketplace. After a tense negotiation process, the situation culminated in a dramatic turn of events when it appeared that nothing would proceed with the sale, leaving Max and Aaron initially feeling relieved that they perhaps avoided a scam.
The Revelation of Ownership
The narrative took another twist when the ownership records for Longform.com were checked, revealing that the domain had indeed been sold to another entity. Investigations led to discovering that it was purchased by a company, Mark Monitor, which specializes in brand protection for major corporations. Michael Birkin's Esquire clarified that the bidding war was coincidental, reflecting the market dynamics rather than a set-up to inflate prices. This turned out to be a mixed ending for Max and Aaron, as while they didn’t secure the domain, they learned it was in the hands of a reputable domain reseller, which underscored the domain's potential value.
This week we enter the mysterious, Byzantine underworld of domain sales, where people make money speculating on the website naming market. A few years ago, the owners of the popular journalism website longform.org blundered into this world when they innocently tried to procure longform.com. In this episode, we find out about their misadventures, and we hear from the Derek Jeter of URL purchases.