Would you spend over a million dollars on changing your domain name?
At first glance, it does not sound like a smart business decision, right?
At Ports Group, we have been handling domain name acquisitions on behalf of our clients for over two decades now. That is why it is great to read the candid statement by the founder of (what is now) Sumo.com, on what made him decide to spend $1,5 million on changing their domain name from sumome.com to sumo.com. Read all about it here.
We know for a fact that there are many companies out there that are not satisfied with their primary domain name. Not owning the .com domain for one’s brand is the most common reason. However, there are always ways of improving one’s presence on the internet, usually without having to spend even near $1,5 million.
In our experience, most domain names are for sale if your domain name partner has the skills to be able to get in touch with the owner, negotiate well and actually making sure that one gets what one paid for when a deal has been struck. Last but not least, set a realistic budget and resist the temptation of starting with a lowball offer.
Furthermore, in many cases the dissatisfaction of not owning a specific domain name is totally in vain. This is because you might actually be legally entitled to the domain name, without even knowing it!