27 Feb '14, 4am

Changes Hands for $950,000 in the Highest Domain Sale Reported So Far This Year

Last week I was talking about the high end of the market taking a breather as the highest reported sale was just $25,000. Well, break time is over . We have learned that 100.com has changed hands for $950,000 in the biggest domain sale reported so far this year . 100.com was purchased by a public company, YY Inc. (traded on the NASDAQ ), who has launched a Chinese language online education site on the domain. YY Chairman Mr. Jun Lei (who some have called the Steve Jobs of China ) announced the purchase in a news conference today. Our friend, George Hong of Guta.com , who is fluent in Chinese, saw the announcement and relayed the information to us. Mr. Lei, who is also the Founder, Chairman and CEO of another red hot Chinese company, Xiamoi , said YY plans to spend 1 billion CNY ($163 million ) building out 100.com over the next 2-3 years.

Full article: http://www.dnjournal.com/archive/domainsales/2014/2014030...

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