PALM BEACH, FL – According to several reports, the 2 letter gTLD “My.Life” has been sold in a transaction valued at $175,000.00 (according to the registry), with $100,000.00 paid up front in cash, and $75,000.00 to be paid by the end of the year. The sale was confirmed by a tweet from the Donuts Twitter account and by Elliot Silver who reached out to Matt Overman, Senior VP of Sales at Donuts.
The buyer of the unusually short domain asset is believed to be Meredith Corporation (MDP), as the WhoIs was updated with it; the same company which ceased printing Money Magazine in April 2019 and then sold the domain name Money.com a few months later, after claiming that it had decided to go totally digital and kill the print product. Although the exact price was not disclosed, it is believed Meredith Corporation received $20 million for that Money.com domain name.
With a well-established public information service company called “MyLife” already doing business as MyLife.com, Inc. and that company holding several registered trademarks for the term “My Life” what in the world would this large company want with this domain name for?
The purchase price of the domain name doesn’t seem large enough for Meredith to require a payment plan either. That doesn’t make sense. Maybe it just looks more reasonable than all cash? It will be very interesting to eventually see what this domain name is used for.
Meredith is a “media conglomerate” which owns a lot of newspapers, magazines, television stations and radio stations. They do also own some web properties but the majority of their assets are what I would consider old-school. I have to imagine they are seeing dwindling revenues and profits, especially now, while newsstands are pretty much empty and print declines continually. Their stock has also been declining and is currently at its lowest point since 2010. Meredith also, just this past November 2019, sold its 60% equity ownership of the company which owns Myspace.com.
Just seems like an odd time to buy a domain name which is a gamble, unless they are planning on purchasing MyLife.com, Inc., yet, there still seems to be little reason to need the “.life” URL, unless another My Life company is in the cross-hairs for acquisition.
The only company I could see wanting this domain name, “My.Life” would be My Life Digital, who currently uses this horrendous domain name: https://www.mylife-diabetescare.com
I look forward to the day when all domain name sales prices are only established once an un-involved third party service such as the Escrow agent (trustworthy one such as Escrow.com) has the additional responsibility of disclosing the sales price on deals intended to be made public. Because this current system we have is totally unreliable.
About The Author: John Colascione is Chief Executive Officer of Internet Marketing Services Inc. He specializes in Website Monetization, is a Google AdWords Certified Professional, authored a ‘how to’ book called ”Mastering Your Website‘, and is a key player in several Internet related businesses through his search engine strategy brand Searchen Networks®