7 Figure Denver.com Purchase: “It’s Paid Off”
Deborah Kearns of RIS Media published an article about Peter Niederman and his Kentwood Real Estate brokerage. As you may recall, Kentwood Real Estate acquired Denver.com in 2012 for an undisclosed seven figure purchase price. The domain name was sold by Boulevards, a company that owns many large city .com domain names.
Judging by Peter’s comments in the RIS Media article, it seems that things are going well for Kentwood and Denver.com. In the article, Peter recalled that some people thought he was “crazy” for spending seven figures on the domain name, but the purchase has “paid off” for him and his company.
I reached out to Peter to ask about the article, and he let me know his company has acquired quite a few excellent domain names in addition to Denver.com. Kentwood Real Estate also owns DenverRealEstate.com, DenverHomes.com, HomesinDenver.com, Boulder.com, and FortCollins.com. “I love the idea of branding, great domains and real estate go hand in hand… They are priceless,” he told me.
Peter has also received the accolades of colleagues in the real estate business. Earlier this year, he was “recognized as one of the 200 most powerful people in residential real estate for 2014/15 by the Swanepoel Power 200 (SP200), an annual list of the most powerful real estate leaders in North America,” according to a press release I saw on LuxuryRealEstate.com.
When I wrote about the Denver.com acquisition, I mentioned that I thought this would be a win/win for both parties. One might think Kentwood is the bigger winner in the deal considering how happy the CEO is three years after the deal. I think Dan Pulcrano, CEO of Boulevards, can use the Denver.com success story to help sell the idea to real estate agents in other markets as well. Boulevards still owns great assets like Seattle.com, SanFrancisco.com, LosAngeles.com, Philadelphia.com, and many others. Having someone like Peter Niederman touting the benefits of owning a city .com domain name is a strong endorsement of the model, and could lead to even bigger deals for his company.
Thanks to Sahar Sarid for sharing a link to the article.
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