Move.com just bought Relocation.com For $11.5 Million cash.
Although Relocation.com is a business not just a domain, we would make the argument that the site Relocation.com would not have gotten to where it is today without the domain name.
The buyer Move.com is owned by a publicly traded company, Move, Inc. (Nasdaq: MOVE)
Move, Inc. also owns Moving.com
Go ahead and tell me that domain names are not important.
Here are some quotes from the PR:
“The deal represents another step toward Move’s strategic goal of creating a one-stop destination for the industry’s most comprehensive and accurate real estate listings, as well as adjacent services like moving and storage that make the real estate process easier and more convenient for consumers. The acquisition also bolsters Move’s focus on the residential rental market, which in the U.S. is expected to add five to six million households in the next decade, according to the Washington D.C.-based Bipartisan Policy Center. “”Our goal is to create the leading online marketplace for real estate related information and services,” said Steve Berkowitz, Move’s chief executive officer. “Bringing Relocation.com under the Move umbrella and merging it with our Moving.com business extends our value to consumers by increasing the resources and tools at their disposal. At the same time, it extends our value to the industry by giving the 40 million Americans who move each year more reasons to engage with us.”
“Relocation.com is a premier online resource for consumers preparing to move to a new home or apartment. The service works with pre-screened and licensed moving, auto transport and storage companies from across the country – and internationally – in order to reduce the stress consumers often feel about the relocation process. Adding Relocation.com’s scale and reach to Moving.com’s recognized best-in-class quality practices creates a powerful offering in moving services.
The purchase price of the acquisition was $11.5 million in cash, of which $9.5 million was paid upon the deal close, with the remainder to be paid in two equal amounts on the first and second anniversaries of the close. ”