Ringtones.com Changes Hands for $750k
It was just announced that the domain name Ringtones.com has been sold for $750,000. Dave Evanson from Sedo was the domain broker for this transaction.
Prior to the sale, Ringtones.com was owned by Mobile Streams Ltd, a company trading publicly on the London Stock Exchange. Currently (now and prior to the sale), the domain name has been used as what appears to be an affiliate portal, allowing visitors to download ringtones to their mobile phones.
According to a news release on Stock Market Wire, Mobile Streams’ CEO Simon Buckingham commented that the company chose to sell Ringtones.com to use the proceeds for another line of business. “We want to ensure that the company has the appropriate financial resources necessary to take full advantage of the rapidly growing apps market,” said Buckingham.
An old news release from Mobile Streams noted that Ringtones.com was originally launched by the company in 1999.
The domain name is still in the Sedo escrow account, and the name of the buyer is not yet public.
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