Back in the early 90’s who would have thought that a domain name would ever be worth millions of dollars? Not very many. Some people bought very broad domains like candy.com and business.com not knowing how much they would be worth later on. The top highest price paid for a domain is $35.6 million for insurance.com in 2010. In 2007, HomeAway purchased vacationrentals.com for $35 million making it the second highest price.
Businesses like Apple and Facebook had to buy domains from others that were very closely related to their business when they launched new products and to stay competitive. Apple bought icloud.com for $6 million in March of 2011 and Facebook bought FB.com for $8.5 million in November of 2010.
How do these domain prices relate to your business? Do you have a domain registered for your business with a website to along with it? If yes, then you are on the right track. If not then make sure to get registered with your businesses domain to start with. Right now GoDaddy.com is have a 40% off sale for domain names. Having a website is crucial for your business to stay alive in the competitive digital marketplace of today. If you need help with your domain purchase and website, contact the web development experts at Off The Wall Media. Learn more at offthewallmedia.com