Rick Schwartz announced today on his blog, that he has completed the sale of Candy.com for $3 million dollars to Melville Candy Company of Massachusetts.
This is another multimillion sale for Rick and the 4th in the last couple of months for the industry, following in the heels of Toys.com for $5.1M, Auction.com for $1.7 Million and Ad.com for $1.4 Million.
Not bad in the worst economy in 80 years.
Candy.com will be owned by G&J Holdings, LLC, which will develop a new Internet based confections retailer which will launch on July 1, 2009.
Let’s also not forget to realise all the offers Rick turned down for this domain over the years in the six and seven figures.
To get the big sale, you have to have the guts to turn down some serious offers along the way.
We congratulate Rick and the buyer.
“Rick Schwartz announced today on his blog, that he has completed the sale of Candy.com for $3 million..”
MHB,
$3 million is just like the down payment.
The Press Release today doesn’t mention it but yesterday, June 02, Rick
said on his blog:
“Besides the $3 million for the domain, I will share in the profits with 2% royalties off the gross for 15 years. That should more than double the entire transaction. And with a little luck…..who knows.”
Reference: http://snurl.com/CandyResiduals
Imagine that.
Residuals for 15 years.
That’s a lot of teeth cleaning.!
Usually in the domain biz…Don’t we declare a deal a “Done Deal” , AFTER the domain has changed hands in the whois?
(ie-Property.com, Candy.com)
lol.. know what you mean John.. I always say a deal is never a deal until the money is in the bank account.. although, you would have to think that seeing as there has been a press release etc.. deal should be as good as done, or there would be a lot of face saving to do!!!
besides saying “no”, I wonder how he get some small company to pay such a high price.
Magnifique!
Wow, genaric domains rules