It’s exciting news in the domain industry. Recently Eko.com was sold for a whopping $1.5 million to become the 3rd largest publicly reported domain sale of the year. This sale illustrates a tough issue faced by startups around the world aspiring to become global players.
The new owner is USA-based media technology startup Eko. The company was founded in 2010 using HelloEko.com. With several rounds of funding to reach a total of $37 million, Eko is well positioned to upgrade its domain to Eko.com. The upgrade will certainly bring trust and prestige to the company.
However, this creates a challenge for startups around the world with the same name. For example, USA-based software startup Eko with $28 million funding uses EkoHealth.com; Thailand-based mobile tool maker Eko with $2 million funding operates from EkoApp.com; and India-based fintech platform Eko with $6 million funding owns eko.co.in.
There is another Eko too – in China. Eko (宜可) was founded in 1997 and has become a global supplier of stainless-steel trash cans. Its American subsidiary operates from EkoUSA.com. The company has also registered EKO as a trademark in over 70 countries.
Once Eko.com becomes the corporate domain of the USA-based media technology startup, the domain will likely be unavailable for a long long time for other companies to acquire. This means it will almost be impossible for other companies with the same name to upgrade to Eko.com.
Here is the lesson: if you aspire to be a global player, get the .com domain matching your brand from day one. Otherwise, you may have to settle for a subpar domain or have to rebrand in order to get the brand-matching .com domain. Is it vital? Yes, because most major brands in the world own their brand-matching .com domains.
Join me on LinkedIn for further conversation
Very well explained Kassey!
But there are big corporations still not taking this thing seriously and will have to suffer in long run.
The health co is unlikely to put much importance on having the exact domain, and the others are too small to spend much.
If the business isn’t consumer facing the chance of them spending over low 6 figures is very low, regardless of how much they have raised. The domain just won’t be particularly crucial.
so that is the problem and the opportunity. We are highly focused on the cannabis industry and I see and hear the exact train coming and aside. I represent our own cannabis domain names and many owned by other domain investors.
Many of our domains are product specific and not owning the specific .com will certainly negatively affect online sales and confuse the market not to mention drive traffic and business to the competition.
Some get it. Some will get it. Sadly many people never will understand the true power thus value of a great unique domain name.
The opportunity remains for each of us in the domain industry to continue to educate the uneducated.
Snoopy nailed it.
Should be obvious,
Buyers are creating ” the market “.
LOL – “educate” the uneducated.
.com is let’s say the Lamborghini
Then “every thing else.”
A small number of Corps compared to
“Everything else” market.
Sadly many people will never understand the power of the market.
Consumers are not ignorant or confused they mostly growed up with tech in their hands.
B2B – No confusion there either if the company is on top of their customer base.
Scott- you’ve got a couple of things going for you.
Pre-rolled portfolios.😜
Product specific. – traffic drivers.
Lots of companies now creating portfolios of domains for various use.
The number of domains per company will continue to rise.
The domain market could be better served by increasing the average sale not the occasional mega sale.
Kassey’s point is perfect.
“There’s only ONE but many need it”
Always in appreciation of your insights!
Cheers