Domains are the core of the web. Web 2.0? We don’t need that bubble.
TechCrunch is known for covering web 2.0 companies. So when the blog recently covered Oversee.net’s acquisition of Moniker, one reader commented that this wasn’t right for the site:
“Only domainers even know about this Web 1.0 company. How is this Web 2.0 news?”
You know buddy, you’re right. Moniker is a web 1.0 company. Here’s how it’s different from a web 2.0 company:
1. It has paying customers
2. It is profitable
3. It has a real business plan (not supported by ads)
4. It wasn’t counting on a buyout from Google to pay off its investors
5. See #1
Another reader commented:
You know it’s crazy to see a company like this [Oversee.net], with their basic yet clean looking website make giant purchases like this.
Notice that they haven’t even changed the copyright date in their footer. =)
Yeah, isn’t it funny how a company without a whiz-bang ajax web site can actually function and make money?? Amazing!
But maybe these guys are on to something. Maybe Moniker needs to “web 2.0” itself so it can increase its value in Oversee.net’s hands. Here are some suggestions to make that happen:
1. Give domains away for free. Hey, valuation is based on the number of registered users, NOT profits! And couldn’t this be an “ad-supported business”? That would be cool.
2. Add a bunch of useless ajax widgets to the home page.
3. CEO Monte Cahn should spend 50% of his day writing a blog about the business rather than focusing on growing the business.
4. We need some social networking aspect here. How can you expect to grow your valuation if “social networking” isn’t in your tag line? Moniker needs a Facebook widget if it’s ever going to make it in the web 2.0 world.
5. Add “Beta” to the company’s logo. I know the company has been around for about a decade, but if you aren’t in beta then you aren’t cool.
By implementing these web 2.0 requirements, Moniker could easily be worth “one billion dollars” in a couple years. Google or eBay will buy them out, right?
[Update: I forgot the most important thing Moniker has to do. It needs to change its name to Monikr.com. Gotta get rid of that last vowel if you want to fit in!]
KL says
Most of the companies “launched” on Techcrunch are never heard from again.
Arrington himself has openly attacked the domain industry, played the martyr for not pulling the comments left as responses, then removed the comments left as responses.
Web 2.0, your time is over. More people will make $10M in lottery ticket wins this year than will make $10M from launching and flipping “social networking” companies. Liquidity is drying up. The billions floating around looking for a home, no matter how ridiculous that home, are gone.
Dave Zan says
KISS…as in Keep It Simple (insert your favorite adjective here starting with S). 😀
David J Castello says
Excellent post, Andrew.
I believe you hit a nerve here.
Andrew says
I forgot the most important thing Moniker has to do. It needs to change its name to Monikr.com. Gotta get rid of that last vowel if you want to fit in!
Ross says
Monte could do all of those things, but why would he want to compete with DemandMedia? 😉
Andrew says
Ross, I’ll cheers to that.