Although the exact amount of the sale was not disclosed, I was informed by a party to the deal, that the purchase price exceeded the amount that Toys.com sold for last year.
That would make this domain, the top domain sale for 2010 by far, and one of the most expensive domain names ever sold.
(The domain MyCreditScore.com was included in this sale).
The domain was owned by Eric Wagner, who was the original owner.
Mr. Wagner is quoted as saying:
“I had a feeling when he registered CreditScore.com, and MyCreditScore.com back in 1997, that someday these would be valuable.”
“I feel relief that it is done and am very satisfied with the price.”
“Over the years CreditReport.com will benefit many times over the sales price through the type-in traffic and increased conversion rates. In addition, the cross selling opportunities and related conversions will increase as well. So much of our daily life is significantly influenced/determined by our credit score. When we type creditscore.com or mycreditscore.com we have a legitimate and important purpose to help ourself and our families. I think CreditReport.com can satisfy that purpose better than I can. So ultimately I think the biggest winner in this deal is the American Consumer.”
Surprising that the domain was first registered in 1997 as you would have thought it would have gone years earlier.
We congratulate the buyer and the seller and the broker handling the sale, Derek Giordano & Associates.
Here is the official press release:
“”””CreditReport.com, a leading provider of independent consumer credit information, announced today that it has acquired the domain CreditScore.com.
“”The company plans to distribute millions of free credit scores to consumers and educate them on how best to manage the factors affecting their score. Knowing their credit score can arm consumers with the information to “see themselves as lenders do” to better manage and protect their credit and derive those benefits that can ultimately improve their personal finances.
The acquisition builds upon CreditReport.com’s consumer advocacy philosophy. For more than 20 years, the company has been on the forefront of helping millions of consumers learn about their credit profile, uncover credit report inaccuracies and quickly act upon possible situations of identity theft by daily monitoring their credit reports and tracking of their credit score.
“We want every single American to know their credit score because it can affect their everyday life and major life events,” said Bruce Cornelius, chief marketing officer, CreditReport.com. “During this economic downturn, many banks have unilaterally closed customer accounts, reduced available credit lines, raised interest rates and fees on consumers – astonishingly, even on their best customers. We believe those actions by lenders have contributed to the nation’s declining credit scores, further exacerbating efforts by consumers to recover from the economic downturn. Credit scores have far-reaching effects on consumers beyond loans and credit; they are used in assessing a consumer as an insurance risk and thus can increase or decrease the insurance premiums they pay. Credit scores can even be one factor used that could affect the ability to secure new employment, which consequently could directly undermine the economic recovery of the nation. By knowing their score, consumers are better able to challenge these seemingly arbitrary changes and get the credit they deserve and the best terms available.”
“We’re delighted to see CreditScore.com become a part of the CreditReport.com brand,” said Eric Wagner, a Lenexa, KS-based private investor and the original owner of CreditScore.com. “CreditReport.com and CreditScore.com share the common goal of empowering consumers with taking control of their credit score through affordable and easy-to-use credit management tools.”
CreditReport.com’s service tells consumers what their credit score is, when it changes and what factors affect it. One of the innovations offered by CreditReport.com for the benefit of consumers is credit score tracking — rapid email alerts to subscribers if there is a material credit score change and details on the top factors affecting the credit score. With credit score tracking, consumers can more proactively manage their credit for their own benefit and be alerted to data which may indicate that identity theft has occurred. With the acquisition of CreditScore.com, the company will further innovate upon its credit information management tools that empower consumers to protect their credit and directly derive the benefits of building or maintaining the best score possible.
The transaction was managed by Derek Giordano & Associates.”