Sex.com investor tells his side of the story.
Mike Mann, who founded BuyDomains, is always one to speak his mind. So when news broke yesterday that Sex.com, in which he was a part investor, was going into foreclosure, he didn’t hesitate to speak up.
“I am merely an investor who got completely railroaded by other investors with big guns, bad practices, and bad attitudes,” Mann wrote via e-mail. “I am always up for a good fight since any money I would make was already predesignated to innovative charities. I represent those charitable recipients always, I socked away enough for myself a long time ago, and I was never concerned about material wealth anyhow, the charitable works came first. I like to be clear about what I’m doing here.”
The entities listed on the Sex.com foreclosure notice are not all debtors, but there are common links. The actual debtor is Escom, LLC.
Andrew Miller, co-founder of Internet Real Estate Group (IREG), continues to deny that the company had any involvement with Sex.com. Reached by phone yesterday to comment about Sex.com, Miller said, “I know nothing about it. Zero.” He called back a few minutes later to note that there may be some common investors between IREG and Escom, but that IREG itself is not involved.
So what does Mann think about Sex.com’s prospects at auction?
“This is clearly the best domain in the world that is for sale, the type in traffic is worth like 20M for the life of the asset at least, then add branding, uniqueness, shortness, global ubiquity, and someone building a real viral asset and brand development on top of all that, if I had access to 25M I’d easily be a buyer, someone will build it and exit for 50-100M Im sure.”
We’ll find out if anyone else agrees when the auction takes place next month.