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June 11, 2014

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Here's the The Lowdown from DN Journal,
updated daily
to fill you in on the latest buzz going around the domain name industry. 

The Lowdown is compiled by DN Journal Editor & Publisher Ron Jackson.

And the Hits Just Keep on Coming! 37.Com Sold to Chinese Company for Nearly $2 Million

Just yesterday, in our latest weekly domain sales report, I told you about the first two 7-figure domain sales reported this year - Whisky.com at $3.1 million and Youxi.com ("games" in Chinese) at CNY 15 million which equals $2,430,000 at current exchange rates (in case you missed it, the  remarkable full story of the Whisky.com sale by the Castello Brothers is detailed in our current Cover Story). 

Now, less than 24 hours later, we have confirmed a third blockbuster 7-figure sale. A Chinese maker of browser based games, 37Wan, announced they purchased 37.com for CNY 12 million, which comes to $1,960,800 as of this writing (the seller is believed to be a U.S. company incorporated in Delaware that holds many other prime numeric domain names). 

 

Our Asian market expert, George Hong, spotted the first report of the sale today on Chinese news site Sohu.com, who noted that the purchase price is a drop in the bucket for 37Wan as the company is believed to have earned a profit of around $36 million in 2013. 

Hong then located a much more detailed follow up report at another popular Chinese news site,  EEYY.com, complete with photos from a celebratory "brand launch"  press conference hosted by 37Wan co-founders, Mr. Li Yifei and  Mr. Zeng Kaitian, that also featured a number of Chinese movie stars. 

Mr. Yifei said that upgrading the company's domain from 37Wan.com to 37.com was important for several reasons (the word "wan" means play in Chinese). One, it is easier to remember and thus easier for new players to find on the web. Two, the company is  expanding into global markets and 37wan.com would not have been easily understood by international audience. And three, they noted the greater success two other Chinese companies,  JD.com and VIP.com, achieved after upgrading to those short acronyms, further encouraging them to change the name to 37.com. 

George Hong

One other note, if you are a regular reader you have been seeing Mr. Hong's name in our reports frequently since George (who is originally from China), started helping us uncover and confirm domain sales in the rapidly growing Asian market. For those of you who do not already know him, George is the President and CEO of premium domain brokerage company Guta.com. George is also a math whiz, holding both bachelors and masters degrees in mathematics. He also passed his PhD qualifying exam before the growth of the Internet caught his attention and prompted him to switch to IT and domains. Math's loss and our gain! 

(Posted March 6, 2014)


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