Company that acquired BuyDomains in 2014 just wrote off $13.8 million in domain value.
Endurance International Group has written off $13.8 million of value from domain names it acquired in 2014.
The company made the disclosure in its most recent quarterly filing with the SEC:
During the three and nine months ended September 30, 2017, the Company recognized an impairment charge of $13.8 million relating to certain domain name intangible assets acquired in 2014, which was recorded in cost of revenue in the consolidated statements of operations and comprehensive loss. The impairment resulted from diminished cash flows associated with this intangible asset.
While the SEC filing does not mention it by name, 2014 is when Endurance acquired BuyDomains for $44.9 million.
I reached out to Endurance’s investor relations department for clarification.