Escrow.com sees transaction growth yet again.
How’s the domain name market doing?
Quite well, thank you very much.
I reached out to Brandon Abbey, president of Escrow.com, to find out how business is this year.
Abbey says that Escrow.com’s transaction volume for domain names and web sites was up 15% in the first half of 2012 compared to the same period in 2011. The dollar volume for these transactions was up a whopping 21%.
Keep in mind that 2011 was also a record year for the company, so the bar was high.
The increase could point to a strong market, increased Escrow.com market share, or both. I tend to think Escrow.com is also growing the overall escrow market by making it easy for people in a transaction to use an escrow services as opposed to alternatives (no escrow, lawyer escrow, contract, etc). It is grabbing a share of the market that previously didn’t use escrow to complete a transaction.
Escrow.com is taking some of the profits from these transactions and investing them in its infrastructure. Abbey says the company is completely redoing its backend systems and its customer facing web site. A few months ago it also launched a broker tool.