Inc.com just published the story of Jesse Stein who bought the domain SportsMemorabilia.com for just $12,500 and turned it into a $19.5 million retail business.
Its a domainers dream story.
SportsMemorabilia.com was purchased by Mr. Stein in 2006, for $12,500 from Moniker.com in March 2006
At the time it was a parked domain and in “just six years Stein turned it into a recognized retail brand with more than 450,000 products from across 13 sports–taking in $19.5 million in 2012 and earning a three-year growth rate of 270 percent”.
“””The serial entrepreneur and Wharton graduate was inspired to buy the domain after attending a Las Vegas conference that suggested there was money to be made in e-commerce sites with “category killing” domain names”.
It seems that Mr. Stein may have attended TRAFFIC 2005 that was held at the Venetian Hotel in Las Vegas.
“Stein began pursuing some 200 category-defining domain names–such as hobbies, biking, and boating.com–with the hopes of turning the ones that showed potential into e-commerce empires”.
“SportsMemorabila.com was the first one of these killer domains that looked promising, so Stein purchased it for $12,500 and set about transforming it into a fully functioning website where customers could buy authentic, signed sports paraphernalia”.
Its a great story about which serves as further proof that a domain name like no other asset on earth can launch a life changing business.