Bank sells domain name to another bank for $1 million.
Qatar National Bank has paid $1 million to acquire the three letter domain name QNB.com.
The deal was disclosed in an SEC filing made by the seller, another bank called QNB Bank. The seller changed its web presence to QNBBank.com. Changing a bank’s domain name is a big deal, and I’m not surprised at the price tag on this deal given the circumstances.
Qatar National Bank uses the country code domain name QNB.com.qa for its web site. It is now forwarding QNB.com to its main website.
Thanks to George Kirikos, who spotted the SEC filing.
Nice sale, but given who they were dealing with they paid a premium on top for that reason, a domainer, or non associated owner would never get the same shake.
Was there any website included or solely the domain sale?
You would not see this deal in banking to often, imagine being a client, and going to a different banks website, it would take time for migration if you respect your clients.
Great sale, dudu.com money
It’s just the domain name.
Thanks Andrew for clarification.
@Robbie
Rightly said. Great sale and great achievement for the seller.
wow.. great sale. I wish if it was one of my domains. 🙂
http://www.qnbbank.com/2690/mirror/files/Website_Address_Change_Press_Release.pdf
Heh, I bet previous owner, if he was domainer, sold it cheaply because of a “bad letter” 🙂
In my humble opinion.
It’s a downgrade move for QNB Bank changing their online presence from qnb.com to qnbbank.com, while Qatar National Bank a clear winner of using QNB.com a well improve online identity of its qnb.com.qa web address.
Excellent sale indeed.
It’s definitely a downgrade. That’s why they got paid a million bucks.
🙂
Great news and congrats to the seller! You know the old saying ” if you don’t ask, you don’t receive” 🙂
Great sale and success for the seller, everyone who own a good domain deserve a good buyer.