RH Donnelley (RHD) has purchased Business.com for a reported $360 Million.
Business.com brings in about $15 Million dollars a year in revenue. More importantly, it is one of the world's best domain names. This considerably ups the $100 Million dollar price tag for dictionary.com, recently acquired by Answers.com.
Reportedly Dow Jones and the New York Times were also bidding on the company.
Business.com was purchased in 1999 for $7.5 Million. At the time it was the most highly publicized domain name sale ever. It later went on to be highly ridiculed as indicative of the irrational prices being paid for domain names.
Thursday, July 26, 2007
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