Pizza.com Web Domain Sold For $2.6 Million
A reminder that domain squatting can be a lucrative hobby!
Chris Clark doesn't need any venture capital to fund his Internet protection startup: he just sold his pizza.com domain name for $2.6 million.
Clark had the presence of mind back in 1994 to register the pizza.com domain and he's paid a $20 fee annually to keep it.
Clark had some small success with the name, based on a pizza delivery and advertising site he started with a friend. When they quickly turned the profit corner with that business, Clark started thinking about selling the domain name.
He solicited bids by posting a "for sale" notice for the domain on the site. When he received six-figure offers, he decided to contact Sedo, an online auctioneer of domain names.
The first bid was for $100 on March 27 and interest grew in intensity as bidding passed the $2 million mark, which Clark had set as his lowest price for the domain. It hit $2.6 million last week.