Garry Chernoff Sells Scada.com for $110k
Last week, I published an article about Garry Chernoff’s sale of Jet.com, which is now reportedly owned by the founder of Diapers.com, Mark Lore. Although the sale of the Jet.com domain name was private, I learned about another nice sale that Chernoff’s company (NetIncome Ventures) just closed. Scada.com was sold for $110,000 in a deal brokered by Darryl Lopes at DomainNameSales.com.
If you visit Scada.com, you can see that it is owned by a company called B-Scada, Inc. Before visiting the website, I was not aware that SCADA is an acronym for “Supervisory Control and Data Acquisition.” According to the website found on its newly acquired domain name, B-Scada, Inc. was established in 2003, and the company is based Crystal River, Florida. Prior to the acquisition, it appears that the company had been using B-Scada.com or BScada.com for its website.
When reporting the sale, Chernoff mentioned that the domain name was purchased using a nine month payment plan. In order to facilitate this, Chernoff elected to use a domain name holding transaction at Escrow.com. This allowed B-Scada to use the domain name in the interim while payments were being made. Chernoff is in favor of offering payment plans under the right conditions. “I don’t mind easy payment plans if the payments are notable and the payout period is not excessive,” he told me.
I have also found that offering a payment plan is a good way to help entice a buyer to close on a deal when they may not wish to part with the full purchase price up front. When using a licensed escrow service, the domain name is protected in the event of a default, and the seller generally keeps any payment that had been made prior to default.
Scada.com had originally been acquired by Chernoff’s company in 1999 via Network Solutions drop. The buyer contacted Chernoff via the Domain Name Sales landing page, and the parties used Lopes as the broker.
Reach out to Elliot: Twitter | Google + | Facebook | Email