When I read the press release yesterday, stating that fund.com was sold and now being used by a public company fund.com (otcbb: FNDM) for 10 million dollars cash I was suspicious.
I reviewed some press releases from the company and saw that back on January 22, 2008, fund.com announced that they:
“””changed its name to Fund.com Inc to reflect its newly acquired business in a reverse merger with privately held Fund.com Inc that was filed with the SEC on January 16th. In addition to the change of name, the previously announced stock dividend was completed and took effect on January 15, 2008.”””
On January 17th the company released the following:
“”””Eastern Services Holdings, Inc. (today announced it has completed a reverse merger with privately held Fund.com Inc.. Fund.com intends to operate an Internet-based financial publishing, online advertising and content licensing business focused exclusively on the investment fund industry””””
On November 12, 2007, according to fund.com site, the company completed a $10,000,000 private placement.
Today we spoke with Justine Sacco, the contact listed on all of the press releases for Fund.com and she confirmed that the company
now known as fund.com did in fact acquire the domain for $10,000,000 in cash.
Ms. Sacco would not confirm when the domain was actually acquired but it seems, in light of the other press releases, it was acquired late last year or the beginning of this year.
This certainly makes investment.com, acquired at the TRAFFIC New York auction for $1,000,000 last June, look like a bargain, and certainly increases the value of many domains in this field, including reinvest.com owned by our company.
