Looks like Snap.com was acquired by Snapchat for $5 Million in the year 2014.
Snapchat has rebranded themselves as Snap Inc. and will be going public in next couple of days. A veteran domain name investor; George Kirikos broke the news about price paid Snap.com in a tweet on Friday, 3rd February.
— George Kirikos (@GeorgeKirikos) February 2, 2017
There is a detailed analysis of the news shared by George at TheDomains and I have pasted it below for your information:
According to the WHOIS history at DomainTools, Snap.com changed from Idealab in mid-November of 2014 (into DomainsByProxy and then later MarkMonitor’s DNStination.
If you look at the tables on page F-21 (remember they’re amortizing domains over 5 years, see page F-17), this lines up almost perfectly with a single $5 million deal in November/December 2014. i.e. at the
end of December 2015, the remaining useful life would have dropped from 5 to around 3.8 (which it did) and the accumulated amortization similarly reflects approximately 1.2 years of amortization starting from $5 million on that specific transaction date (as opposed to multiple domain names over different dates).
Although, for the year ending December 2016 compared to December 2015, it should have gone down from 3.8 to 2.8 (it shows 3.0 instead), but the accumulated depreciation of $2,157,000 still lines up well with what it should be if it was a single domain name of $5 million when Snap.com went into WHOIS privacy. That slight discrepancy of 2.8 vs 3.0 might just be sloppiness (given the $5 million “gross” amount didn’t change from year to year, so there were no other transactions in play).
But, we still don’t know if there’s an equity component, which Idealab loves to do (they did that for Top10.com, for example), I think some further confirmation from either Snap or Idealab would help us to know for sure (so it can be charted on DNJournal, etc.).
I get excited hearing about such domain name sales while billion-dollar Internet run businesses understanding the real value of domain names.
Do you have any exciting domain name sales to share? Please feel free to do the same below in comment section.