Shareholder Of Bible.com Sues For “Lack Of Profit”: Is Bible.com Worth $100 Million Dollars?

Posted on October 21, 2010

In  a unusual case, James Solakian a shareholder who owns 28% of Bible.com filed suit against the board directors of the company alleging breach of their fiduciary duty by refusing to sell the site or run the company in a profitable way and for “failing to profit from the goldmine potential of the domain name”.

“The lawsuit cites a valuation done by a potential purchaser that estimated bible.com could be worth more than dictionary.com, which recently sold for more than $100 million.”

The domain name was registered by Roy Spencer “Bud” Miller, an Arizona minister who secured it in 1996 for $50.

According to the suit, soon after he registered the domain, he was offered $100,000 for it which he rejected.

It’s a type of site I haven’t personally seen before and it should be interesting to see what the court does with it.

Certainly this isn’t the only domain name or site which is under performing and owned by mulitple shareholders.

It will also be interesting to see if the court makes a determination of the value of the domain

The case is James R Solakian v Roy Spencer Miller, Betty Miller, Andrew Miller, Stacy Fornara, Edward Cude and Michael Magnant and Bible.com Inc.

7 thoughts on “Shareholder Of Bible.com Sues For “Lack Of Profit”: Is Bible.com Worth $100 Million Dollars?”

  5. “the Bible is the most read book of the world also because is the most printed book of the world, then, a site about the Bible can’t add so much to the Bible’s book by itself, so, in my opinion, the Bible.com domain can’t be sold for $100M and not even at 10% of that price”

    Sorry, what a bull..it! The question is about WHO sells all the books…

  6. You are going straight to hell if you win the lawsuit James:

    “And again I say unto you, It is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God”

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