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How picked its name and bought it for $20,000

December 8, 2011Domain Sales, Domaining, Domainnamewire, hall.comComments Off on How picked its name and bought it for $20,000

Company founder has great message about the importance of (domain) names.

Brett Hellman of chat and collaboration company today posted an intriguing insight into the company’s naming process.

It explains how the company’s initial ideas for names, such as and, were just too expensive. The owners wanted $300k+.

Then they decided on but couldn’t get in touch with the owner. They settled on, but then came to understand they needed something better.

They went back after and were able to get it for just $20,000.

Brett’s blog post is worth reading in its entirety, but here are some of his take-aways that will resonate with Domain Name Wire readers:

- Great domains are still available – if you refuse to settle. Unfortunately, many startups do just that. It took almost a year of iterations and innumerable brainstorming sessions before we even had the idea to call the product
- Don’t stop simply because you find an available domain. The key is finding the perfect product name, then getting the domain – NOT settling with what’s available.
- Don’t start off the conversation with a low ball offer. If the domain owner has held the domain since the early 90’s, they know what they’re doing. However, they likely don’t have hundreds of offers. Bottom line:
Make a fair offer.
- Use an escrow service to keep both parties safe.


(Thanks Jorge Monasterio)

© 2011.

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