Two Domain Name Companies Receive Investments
Tuesday, June 5th, 2007
.Travel registry, Communicate.com get equity infusions.
Is .travel back? A couple weeks ago Domain Name Wire reported that theGlobe.com, parent company of the .travel registry, was running out of money. On May 29 Dancing Bear Investments, Inc. took out a convertible note with the company. It’s only $250,000 but gives the option to purchase up to $2,750,000 before November 25.
Another domain company, Communicate.com, also received an investment. The company announced that C. Geoffrey Hampson is taking over as Chief Executive Officer and is investing $1M in the company. That basically buys him 1M shares plus 1M warrants exercisable at $1.25 per share. Since the investment was made share have shot up from about $1.08 to $1.37, so investors have responded favorably to the news. Hampson has a one year lockup on the common shares.
Communicate.com owns a number of premium domain names including Perfume.com and Body.com, which are run as e-commerce stores, and Cricket.com and Boxing.com, which are parked pages.
Further Reading:
[...] Domain Name Wire reported a few weeks a ago that theGlobe.com, parent company of the .travel registry was running out of money. Today it has been reported that a few days ago on May 29th Dancing Bear Investments, Inc. has invested the sum of $250,000 into the company’s shares. This is not an incredibly substantial investment, however it allows them the option to purchase up to $2,750,000 before November 25th this year. [...]