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Chinese domain name investor getting out, dumps 70,000 .cc domains

Booksir announces to WeChat group that he’s exiting the domain name business.

booksirA prominent Chinese domain name investor has announced on WeChat that he’s getting out of the domain name investing business.

Zhuang Liangji (庄良基), known as Booksir, says he has gotten rid of 70,000 .cc domain names that he bought at an average CNY 120 each ($18.00 US). That’s a $1.25 million dollar investment.

His WeChat post isn’t clear on if he received any compensation for the domain names. A rough translation is that he “gave up/abandoned” the domain names.

Booksir has a number of other businesses, so it seems like he has decided that domain name investing isn’t where he wants to focus his efforts.

He was scheduled to speak at next month’s THE Domain Conference in Florida, but his profile is not currently on the show’s website.

(Hat tip: Allegravita)

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  1. thelegendaryjp says

    Shocking! Im sitting here alone and cannot even keep a straight face while typing this. Who was he going to flip 70000 .cc to for a health margin? Oh ya Chinese but when they don’t bite, no one. He is holding a $1M+ bag of meh.

    • Anonymous says

      Usually the dump stage involves getting some income. This is more like the part where the value has vaporized. However, not knowing what type of domains he has, they could have been worthless from the start. (i.e. 5-7 numbers with 0/4)

  2. Kerching says

    Time to get out, time to get out, time to get out.

    It’s “Musical Chairs” time, just don’t be left holding the parcel.

    Just read how .webcam domains are being dropped in large numbers.

    Pump and dump, pump and dump, pump and dump. The free registrations and 49cent registrations by gullible newbee domainers, many of them Chinese, not able to sell their worthless domains and facing renewal fees are dropping them in droves.

    Who’s next?

    • Anonymous says

      I disagree.

      XYZ is like the Hyundai of domains. If you can afford a Mercedes-Maybach (premium COM), you buy it. If your budget isn’t large enough, you buy a Hyundai Genesis (same SLD as the premium COM, but XYZ).

      The cars have the same exact function (point a to b) and so do the domains (resolve a website). Sure, the Genesis may not be as “cool” or recognizable as the Maybach, but it gets the exact same job done for a fraction of the price.

        • Drewbert says

          Tata? Hardly. More like Reliant Robin.

          I wondered what that huge POP sound was I heard recently.

      • Reality says

        The problem with your car analogy is that it’s missing an important element. Your personal car is just there to get you from A to B. However, in most cases your domain isn’t merely for your personal website; it’s for your business. Customers will look at the quality and authority of your domain and judge you on it. In many cases they’ll decide whether to do business with you based on it.

        Imagine calling an Uber and two drivers turn up, one in a Maybach and one in a Hyundai. Both cars are capable of getting you to your destination, but which driver is going to get your money?

      • Snoopy says

        Buying a .com is nothing like buying a Mercedes, it is not a “premium” extension, it is simply the standard, that everyone uses in the USA and for International sites. There is no “class structure” only people using .com and then a small group using non standard stuff.

  3. chrisbrennan7 says

    90% of domains are registered by pseudo investors. it is a gambol that an end user will materialize or at worst an investor to bail you out.

  4. Joseph Peterson says

    Shouldn’t we ask what sort of .CC domains he’s letting go and what “letting go” means – as prerequisite for discussion?

    7N or 4N? 5L or LLL or Pinyin? .CC is not without value in China; so this makes a real difference in how we assess his decision.

    Also, there are several different ways to let go of domains:

    (1) Watch them all drop. Perhaps mostly without being caught.

    (2) Dump the domains through no-reserve auctions and accept whatever price the market decides to pay. In this case, perhaps the domains sell.

    (3) Transfer the portfolio in its entirety to a colleague.

    Maybe this signals market pessimism. Then again, maybe it’s just 1 man’s career decision to get out of domaining and focus attention elsewhere. I don’t think we have enough information.

  5. thelegendaryjp says

    More importantly here the Hyundai Genesis example is bad, that stuff ain’t cheap. Cheaper yes but not cheap. .xyz would be more like the three wheeled things in India, rickshaws? your all like how cool is that, ok its not that cool but Id own one then your like no I wouldn’t and just accept its not a great investment and your happy you do own a Mercedes.

  6. omer says

    Booksir has a number of other businesses, so it seems like he has decided that domain name investing isn’t where he wants to focus his efforts.

  7. Mishary Alafast says

    Now a days Domain name is also one of the main business. As after COVID 19 all business owner converting their business into digital. So .com TLD is either not available or very expensive. Therefore people preferred country level domains

  8. Mikah says

    Mike Mann had just as many worthless domains. He brags about his sales each month. He doesn’t mention his 100,000s of worthless domains and reg. fees that eat up ALL profits from sales. Snake oil salesman.

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