Malaysia.com Sells for $400,000, Live Current Cuts 38%
Thursday, February 5th, 2009
Live Current Media sells domain name and lays off 38% of staff.
Live Current Media (OTCBB: LIVC.ob) today announced the sale of a domain name for gross proceeds of 500,000 CAD, or approximately $400,000 USD. Based on information including whois record changes, Domain Name Wire believes the domain name sold is Malaysia.com. Malaysia.com is the only domain the company has put on the sales block that has had a whois change since then.
The company also announced it is laying off 38% of its staff to conserve cash. The company is betting on its perfume and cricket businesses to get it through the downturn. Live Current owns Perfume.com and Cricket.com, but its primary cricket business is a 10 year deal with Indian Premier League. The deal requires the company to pay $5 million a year, but some of the payments have been forgiven.
Also, the company announced that it didn’t complete the second half of a planned private placement that took place late last year.
The staff reductions include Jonathan Ehrlich, Live Current President and COO. Mark Melville, Chief Corporate Development Officer, will assume the additional role of President of Live Current. The company expects to save $1.3M CAD per year from the cost reductions.
Further Reading:
- Live Current Looks to Sell More Domains, Malaysia.com Whois Changes
- Live Current Sells Cricket.com
- Live Current Media Sells Indonesia.com
Tags: livc.ob, live current media
Malaysia.com Sells for $400,000…
Malaysia.com was apparently worth $400 000. The government or tourism Malaysia should have owned this domain since the domain directly represents Malaysia in the web world.
Hopefully its on the safe hand of responsible parties and hopefully the web wo…
Who cares about domain name any more? Maybe it’s useful 10 years ago when people are new to the Internet… But today, we have Google. Only an idiot would spend that much money on a useless domain name.
[...] names for gross proceeds of $500,000 CAD (around $400,000 US). Andrew Allemann of DomainNameWire speculates that it could be Malaysia.com as Malaysia.com is the only domain name whose whois info has changed [...]
“Wise Guy” is now officially an oxymoron.
Malaysia should buy this domain early, it may useful for 2020year, and i think malaysia.com price will be high from year to year.
finally… anyone got a list on country names bearing .com sold so far?
I wonder which country fetches the highest/lowest…
[...] Live Current previously announced in February the sale of one of its non-core domain name – speculated to be Malaysia.com – for CDN $500,000. Live Current Chairman and CEO Geoff Hampson believes that the proceeds from [...]
[...] Like the last time it sold a valuable domain, it didn’t say which domains it sold. But unlike last time, I’m having a hard time figuring it [...]
[...] selling premium domain names to raise cash. In addition to body.com and vietnam.com, the company appears to have sold Malaysia.com for about $400,000 [...]
[...] More story [...]