NAME is coming soon to the NASDAQ.
Demand Media moved one step closer to spinning off its Rightside domain name business today with the filing of an amended registration statement.
The company plans to issue new shares for the spinoff that will trade on the NASDAQ under the ticker NAME.
The SEC filing does not say how many shares of Rightside will be issued for each share of Demand Media stock. Demand Media plans a reverse stock split before the spin off.
Rightside has apparently struck deals with Donuts to “buy” more of the TLDs it previously had shared rights to. The filing shows that Rightside is launching .rocks, .attorney, .degree, .haus, .lawyer, .mortgage, .software, .market, .vet, .dentist, .consulting, .reviews and .futbol, all of which were originally applied for by Donuts.
The company says it still has 61 active new TLD applications through its partnership with Donuts.
Rightside is betting on the success of new top level domain names, but it still has a sizable portfolio of “old” domain names. The filing states that Rightside has a portfolio of over 300,000 second level domain names.
Page Howe says
i think name could be a compelling investment, depends on how much of the debt thay saddle it with.
Dominik Mueller says
Just started moving my domains from Moniker to eNom… One can only hope they won’t cut back on customer service once they’ll be owned by shareholders.
Buffet says
Invest in a firm that invests in new gtld’s? Wow. I can not image a more dumb investment.
Doug Mehus says
I think Rightside will probably have to take on most of the debt from the Demand Media entity, since they’re taking on most of the assets/business. The remaining part of Demand Media is a collection of former eUniverse/Intermix Media sites like FlowGo that they brand under the “Demand Entertainment” banner but don’t even advertise on their website anywhere. They have a few other interesting assets like eHow and Cracked, but nothing to write home about – and, last I checked, generated substantial losses.
I’m wondering why they don’t just rename Demand Media as Rightside Group and shut down all of the other assets and sell off the domain names on an ad hoc, piecemeal basis?
The other thought, perhaps from the cynical side of me, I had is maybe – as part of the reverse stock split – they’re planning on essentially transferring the ‘good’ part of the business to shareholders so that at least they end up with ‘something’ once Demand Media puts into action a corporate bankruptcy filing?
Cheers,
Doug M.
Mark A says
Rightside no more than smoke and mirrors. The renewal rates on the new TLDs will be extremely low and the long term investment will not be worth it.