Eric Borgos cashes out after his business ideas didn’t pan out.
When you try to build a business on a great domain and it fails, take solace in the fact that you still own a great domain. You still have value.
That’s a lesson Eric Borgos has learned over and over.
Today, he announced that he sold yachts.com for $600,000. He bought the domain last year for $350,000 with plans to develop it. He tried many things: boat brokering, chartering, buying boats for cash, peer-to-peer boat rentals (like Airbnb), self-driving and electric boats, selling boat insurance, and even turning the site into a metaverse. None of them caught on (to be fair, that’s a lot to try in just one year!).
Despite the business failure, he still cashed in when a Sedo broker reached out with an offer to buy the domain.
It’s not the first time this has happened to Eric. He bought adventure.com for $200,000, tried a few businesses, and ended up selling the domain for more than he bought it for.
Peter Askew knows this type of exit as well. He bought calltracking.com for $21,000 and tried to build a call tracking business. It didn’t work out, but he sold the domain for $120,000.
With a great domain, a business failure doesn’t mean you walk away with nothing.
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.