Company known for securing domain name transactions is acquired by Australian company.
Freelancer.com, an online marketplace for freelance services, has acquired escrow service Escrow.com for $7.5 million.
Escrow.com is a popular service among domain name investors and has handled over $2.2 billion worth of transactions to date.
Margins for escrow services are slim, and today’s acquisition announcement puts it in perspective: Escrow.com handled $220 million transactions last year, generating $5 million in revenue and just $1.2 million EBITDA.
Escrow.com will remain a California based company and will operate as usual going forward.
Freelancer.com recently raised AUD$10 million, in part to fund the acquisition.
I’ve reached out to Escrow.com president Brandon Abbey to find out if he will be continuing with the company.