Company powered by geo domains is acquired.
I got a “we should catch up” email from Octane360 CEO Adam Rioux last night. Then this morning I see this – he just sold his company for $5 million in cash and stock plus an earnout of $5.9 million.
My first thought: that was fast. My second thought: I’m not too surprised.
I’ve been singing the praises of Octane360’s business model for a while, and talking about what it can do for owners of localized domain names. But talk about a fast sale — it was still essentially a beta offering.
My previous success with Octane360 was selling listings on sites such as StlDayCare.com. But as the company pulled the pieces together and started selling the leads collected on similar sites, that started to pull in additional revenue. By teaming with Local.com, Octane360 should quickly move to the next level.
I consider this a win for the domain industry. In many ways Octane360 is a domain name company — one that has figured out how to merge the world of SEO and local geo domains.