Report: OnTheBox.com and ForExSpace.com Sold for £250,000 in Cash
I read a report this morning on iGamingBusiness.com that announced the sale of OnTheBox.com and ForExSpace.com for £250,000 in cash for the pair of domain names. London-based Media Corporation was the seller of the domain names, although the registrant information for these two domain names does not appear to have changed yet.
According to this morning’s report, the company appears to have done very well with the sale:
“Media Corporation revealed that the domains were on its balance sheet at £130,000 with the sales representing a profit of £120,000 while it estimates annual staff and associated savings of approximately £350,000. ForExSpace.com was only recently launched and had yet to generate any material revenues while OnTheBox.com came in as a loss-making enterprise for the financial year to September.”
Because these domain names seem to have websites built on them, it’s questionable about whether the sales will be reported as pure domain sales or not. I guess it depends on what the new owner plans to do with the domain names post-sale.
One interesting tidbit from the article indicates that Media Corporation is doing what many domain investors have been doing these last couple of years: selling assets that aren’t making money to increase the amount of cash on hand.
I’ll keep an eye on the Whois information to see who bought the domain names.
Thanks to Chris for the tip.
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