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Domain monetization company Team Internet grossed over $74 million last year

CentralNic paid less than 4x adjusted EBITDA for the company.

Picture of stock ticker board with words "earnings announcement" below it

Team Internet AG, a domain name monetization company, recorded revenue of USD $74 million for 2019 up to December 24. Its adjusted EBITDA for this period was USD $12.3 million.

CentralNic (London AIM: CNIC) acquired Team Internet at the end of last year, hence the odd reporting year.

This was up from the trailing twelve months numbers CentralNic reported when it announced the planned acquisition. At that time, it disclosed the numbers for 12 months to June 30, 2019. Those were $66.7 million and $10.6, respectively.

CentralNic notes that its acquisition price of $48 million was 3.9 times Team Internet’s adjusted EBITDA for 2019 up to December 24.

Like most companies, CentralNic’s share price has taken a plunge in the market turmoil. It closed at 61 pence yesterday, down from as high as 93.5 pence at the beginning of the year. It’s carrying a heavy debt load in the form of corporate bonds. Suddenly, that’s out of fashion.

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  1. snoopy1267 says

    In my opinion they have probably overpaid quite badly. Domain parking is declining at 20%+ per year.

    If it declined at say 20% a year they would never actually recoup that investment based on 4x EBIT.

    • Andrew Allemann says

      Team Internet’s business clearly hasn’t declined like that, though. I don’t know the breakdown, but I suspect a large portion of their revenue comes from the Tonic zero click product and arbitrage. It will be interesting to see how arbitrage changes with the economy.

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