Flippa published a couple domain name success stories. They focused on two names DiveBars.com and Rate.ca.
We are going to delve into the Rate.ca story here and you can read about DiveBars.com which was a quick flip here.
Rate.ca has not been previously reported, if Namebio and DnJournal.com include it, the sale will be the 10th highest reported .ca sale of all time.
The domain name was sold on Flippa in December 2019. The name was listed on Flippa for 3 years. The deal took about 6 months.
The owner acquired the name in 2001 and felt even more encouraged when Rate.com sold for $725,000.
The owner explained:
In 2016, when GuaranteedRate bought Rate.com for $725,000, I knew I had a winner. Although they did not have a subsidiary in Canada, Canadians used the internet just like Americans, and there were already some established competitive Canadian rate sites. It was a proven business concept. I set the price at about 10% of the Rate.com selling price, because the population of Canada is about 10% of the American population.
I had someone contact a few potential buyers, but didn’t receive interest. So I listed the domain for sale on Flippa.com. They say motivated buyers are the best kind; I waited patiently until a buyer was motivated.
The domain name was actually purchased for $75,000 by the owner of Rates.ca and now Rate.ca points to Rates.ca.
Make sure you read the full story on Rate.ca from the owner and broker perspective.