Publication profiles domain investor.
Domain investor, entrepreneur, and Domain Name Wire reader Rick Singer was featured in Crain’s New York Business today.
The article discusses how Singer bought StockProfile.com for over $10,000 about four years ago. He developed the site and sold it for $5 million in restricted equity.
The author describes Singer this way:
Mr. Singer is akin to a house flipper. He trawls for undervalued URLs, finds the ones that have the most potential, adds value and sells them. Like house flippers, he puts an awful lot of hard work into transforming a URL name into a viable business, but he’s cracked the formula.
I don’t think that’s a very good description. House flippers put some lipstick on a house and then flip it quickly. What Singer is doing with his latest venture, GreatApps.com, is anything but a quick flip. The photo in this article is one of the marketing tactics he employing for the site. To be fair, the author does say he puts a lot of work into it.
Now if we could just get mainstream news writers to stop using the “master of his domains” cliche.
Hmmm, they spent $5 million to buy StockProfile.com? Clearly it wasn’t the site they wanted, because they just forwarded it to their (still under construction) home page. Seems a lot for just the domain. Or was it the site’s 300 monthly visitors that convinced them to shell out the $5 million?
I’m not sure this journalist did much due diligence in researching this story.
My favorite part though is this comment in the HTML of QEDConnect.com:
“Future programmers – get money from Makmann and Purdon up front – trust me, they won’t pay…”
Seems pretty legit.
“restricted equity”. Unless you see the actual contract it’s the same as 500M, or 5B.
@Matt
I was curious to dig further myself
Looks like the the stock is on the Pinks under QEDN:
http://www.otcmarkets.com/stock/QEDN/company-info
The quarterly that the site shows mentions it on Page 6:
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=67508
But, it appears the stock is down since then, but would be curious to know more about it how it all came about and anything else about the transaction & site.
ScreenShots has info on StockProfile from 2007 on.
If the company could clarify & comment on it that might be good.
I don’t own nor plan to & have never heard of it till i read the article this morning.
Page 6 says … “On June 17, 2011, the Company completed the acquisition of StockProfile.com, StockProfileTV.com and SPnewsWire.com. The value of the transaction was $5,000,000 which was satisfied through the issuance of 29,411,764 shares of QED Connect, Inc., common stock.”
The stock today trades .0021 to .0049
29,411,764 x .0021 (bid) = $61,764.70
Looks like on June 17 of 2011 it closed at 23 cents:
http://www.otcmarkets.com/stock/QEDN/chart
OTC Markets could confirm if anything occurred between now and then to the common in terms of splits or anything, but it doesn’t appear that way.
No the question is was he able to sell any or does he hold the 5 million shares still?
If so, stick a Fork in that deal ….
Whatever his actual take from stockprofile.com…it is clear Mr.Singer understands: There is only sales and development.
Building up Value and selling it – that is the name of the game. Either way Credit Singer for building up another name brand and selling it.