Live Current Hopes to Sell 6 Geo Domain Names for $6M-$10M [Updated]
Tuesday, October 28th, 2008
Domain holder engages investment bank to sell geo domains.
[UPDATED] Some of the world’s best geo-related domain names are on the block. Live Current Media (OTCbb: LIVC.ob) announced today that it is selling up to 6 of its premium domain names.
Domain Name Wire has learned that the 6 domains are the company’s geography related domain names. Based on the company’s portfolio, these domains are likely Brazil.com, Vietnam.com, Indonesia.com, Malaysia.com, Canadian.com, and GreatBritain.com. [UPDATE: Canadian.com is not on the list. But Communicate.com, the company's former name, is for sale.]
The company hopes to sell the domains for an aggregate amount of $6 million to $10 million in the next 90 days, but may not sell the entire portfolio.
Investment bank Arbor Advisors has the deal with Live Current. It is using Exclusive Domains to sell the domains. Exclusive Domains is run by Lou Doctor, who is also a Managing Director with Arbor Advisors. Doctor has spoken at TRAFFIC conferences in the past and attended the GeoDomain Expo in Chicago this year. Exclusive Domains has brokered valuable domains including Healthcare.com, Deals.com, Houseplans.com, Interest.com, and Billiards.com.
Live Current is losing about $2 million a quarter and had less than $2 million cash in the bank as of the end of June. The company planned to do a follow on stock offering, but its share price has dropped from over $3 per share to just 75 cents today. It also made a cash outlay of nearly $1.5 million earlier this year for an acquisition of Auctomatic, a company that helps people sell on eBay.
Selling the domains will provide a cash cushion. If the domains don’t sell, the company will likely need to seek an outside investment. With little debt, an outstanding portfolio, and a low market capitalization, the company may also be an acquisition target solely for its domain portfolio.
The company is focusing on its core retail sites including Perfume.com and its cricket ventures. Its prized domain is Cricket.com.
Tags: auctomatic, cricket.com, geo domains, live current media
I have seen their portfolio…its not that impressive…after working 25 years on Wall Street this gives the appearance of another needed fire sale…for a company struggling for cash.
Lee N Costa
Lee -
Yes, they need cash. But I don’t know how Cricket.com, Perfume.com, Boxing.com, and Karate.com, in addition to the geo domains, don’t make it an “impressive” portfolio.
Wasn’t Live Current the company that boasts that none of its names are ever for sale, or am I confusing them for someone else?
Some impressive domains, I just think they may have taken it a little too far. If the economy was good they probably wouldn’t be selling off names right now.
Although it would be great for the industry if they got $6-10M for these names, I’d be real impressed if the sales figure total this much. Not that the names aren’t worth it, but if they have to sell them quick, is there a retail buyer for each of those names for those prices ready to go?
jp - no, that wasn’t the company.
Andrew - who was it, its driving me nuts? I think I might have read it here. Do you recall?
[...] Domain Name Wire is reporting that geo-related domains are specifically on the block including Brazil.com, Vietnam.com, Indonesia.com, Malaysia.com, and GreatBritain.com. Considering today’s difficult fundraising market, selling off non-core domain names may be a smart non-dilutive form of financing to fund growth. [...]
jp - the one company I know of is Future Media Architects.
[...] are selling six super premium domain names with an expected total package value of $6-$10 million. Domain Name Wire reports that the domains are likely Brazil.com, Vietnam.com, Indonesia.com, Malaysia.com, [...]
The company could use some better management… the cash won’t help much. They have a long history of being in “trouble” and I lost count how many times they have renamed the company now? lol. Some people just never learn.
Hey Lee,
how do I get a look at thier portfolio?
Steve
Mike - they replaced management about a year ago.
Steve - go to livecurrent.com and click on ’sites’ to see their premium domains.
[...] name assets. Fabulous began selling off their expiring names through Namejet earlier this month, LiveCurrent announced the sale of domain assets yesterday, ppc company Oversee.net has sold portions of their portfolio recently, and domainer Rick [...]
[...] name assets. Fabulous began selling off their expiring names through Namejet earlier this month, LiveCurrent announced the sale of domain assets yesterday, ppc company Oversee.net has sold portions of their portfolio recently, and domainer Rick [...]
[...] name assets. Fabulous began selling off their expiring names through Namejet earlier this month, LiveCurrent announced the sale of domain assets yesterday, ppc company Oversee.net has sold portions of their portfolio recently, and domainer Rick [...]
Just to clarify a previous comment, “I lost count how many times they have renamed the company now?”
The company has changed its name only once. It was Communicate.com Inc. for 8 years, and when new management took over in the company was renamed Live Current Media Inc. in 2008 to reflect its focus on the sports media business (namely through its exclusive content rights agreements with the Board of Control for Cricket in India & the Indian Premier League and its development of Cricket.com as a global cricket portal).
[...] name assets. Fabulous began selling off their expiring names through Namejet earlier this month, LiveCurrent announced the sale of domain assets yesterday, ppc company Oversee.net has sold portions of their portfolio recently, and domainer Rick [...]
[...] name assets. Fabulous began selling off their expiring names through Namejet earlier this month, LiveCurrent announced the sale of domain assets yesterday, ppc company Oversee.net has sold portions of their portfolio recently, and domainer Rick [...]
[...] site, which the 30 person company probably spends much of its resources on. The company recently announced plans to sell 6 of its premium domain names to raise $6 million to $10 million [...]
Perfume.com is a nice site. I actually bought some cologne on it this weekend.
I am impressed with the GEO names and I am sure they’ll raise the necessary cash flow with them. Lot’s of industries are hurting right now and some are turning to Domain Names which I believe is a good thing, more buyers and sellers.
Could anyone explain why domain media companies, after professing and glorifying the benefits of generic, “category killer” domain names, don’t practice what they preach, with the exception of a few, most don’t use a generic name for their own company name or website address, doesn’t this look a little hypocritical?
@namer.ca - Live Current used to use communicate.com. Frankly, few companies should use a generic one word domain as their company mame. It’s hard to distinguish yourself and to protect your brand.
[...] additional proceeds of up to $1 million is expected to close within the next 15 days.” It is also believed the company will sell Brazil.com, Vietnam.com, Indonesia.com, Malaysia.com, and GreatBritain.com in an effort to continue [...]