By: Raymond Hackney
I spoke to Richard Kligman this week and he let me know that the bulk portolio sale of his .tv portfolio has sold.
Richard put the sale on Flippa
The auction did not meet reserve, but Richard was able to sell the portfolio to a buyer under NDA, he could tell me that it did sell for five figures and that he was happy with the sale as he spend his days on his new project.
Richard let people in the auction know why he was selling:
WHY I’M SELLING
There comes a time in every entrepreneur’s life where they find what it is they want to do for the rest of their lives. For me, Mianzi Fashion is it! (http://mianzifashion.com)
I’m the father of an 11 year old special needs boy named Moishy. Moishy lost oxygen at birth giving him Cerebral Palsy. He has low muscle tone is his face which causes him to drool and so he has to wear a bib all day, every day. I felt that someone his age should not be wearing a bib, yet there was no other solution on the market. So I created it and launched it successfully on KickStarter http://www.kickstarter.com/projects/kligman/shirts-to-drool-over-literally raising a bit more than $25,000.
The feedback and orders from around the world were extremely humbling and because of the great need in the marketplace, I have decided to move forward with a full company that will continue to create fashionable and comfortable clothing for everyone.
The official launch of the company is on December 8th in NY at the Special Needs Expo http://specialneedsexponyc.com/.
But a funny thing happened on the way to our launch. I was working with a few Angel Investors and received two offers. One of them was a bit better than the other and when we agreed to terms and it went to contract and the investor asked me for the company wiring info I turned down the other deal. Then all of last week I was waiting to hear back from his lawyer and we finally got the marked up version of our agreement last Wednesday. It was all good except for one small tiny little veto right that would basically give him control of the company. When both my lawyer and his lawyer told him that it is not something I should, would, or could sign, he switched tactics and then started changing all the terms of the deal. On Friday I told him that he is obviously trying to get out of his commitment and break his word and that he succeeded.
I’m very grateful that I was not locked into what would have been a terrible partner, but now I am a bit stuck. There is a tremendous amount of work needed to do in time for the show and so I quickly need to raise funds.
So even though I am an avid fan of the .tv extension, I am a much bigger fan of my son and so I decided to sell my portfolio. Who knows, maybe this is the reason I was so fortunate in the extension in the first place.
Mianzi means “A Face of Dignity & Prestige” in Chinese and Bamboo in Swahili. When you place a bid on this auction it brings me one step closer to bringing dignity & prestige to those that deserve it most.
The names in the portfolio:
- WEIRD.TV – FULL PR4 WEBSITE WITH OVER 1,400,000 VIDEO VIEWS!
- ROYALTY.TV Remember the wedding and the birth?
- COFFEE.TV – Paid thousands for this name a few years ago
- DESSERT.TV – My sweetest name!
- FENCING.TV – Great Sports Name!
- FLATS.TV – Great Real Estate Name!
- IDEA.TV – My personal favorite name on this list
- LAPTOPS.TV ($250/RENEWAL)
- OPPORTUNITY.TV – Was offered $10k for this name a few years ago
- TEA.TV ($250/RENEWAL)
I want to wish Richard all the best with the new project, he is a friend of mine and was a great supporter for .tv while he was an active investor.