The company made a unique trade to get the domain it wanted.
This week on This Week in Startups with Jason Calacanis, Ritual founder Katerina Schneider explained how her company got the domain name Ritual.com.
Schneider explained the importance of having a great domain name. When it comes to vitamins, trust is key. And owning a great domain like Ritual.com gives instant credibility to her company.
Right off the bat, she knew she wanted her company to be known as Ritual, not Ritual Vitamins.
So she contacted the owner of Ritual.com. He wasn’t willing to sell for a price she was willing to pay. But in talking to him, she found out that the Ritual.com owner really wanted Jolt.com for his business and couldn’t get it. So Schneider worked out a deal where she acquired Jolt.com for some cash and equity, and then traded this to the Ritual.com owner.
It’s a fascinating story. See the clip below and the full episode here.
In this week’s episode, 🔥 @katerinamarkov (CEO of @Ritual) tells how she acquired the https://t.co/kES3B5ax62 domain name & the importance of a strong domain name to DTC brands
Full episode 👇
📺: https://t.co/05PN2MuwCl
🍎: https://t.co/58ZnmEmxtM
🎧: https://t.co/aqgmdPDJjK” pic.twitter.com/5qGs1nbmeD— [email protected] (@Jason) September 17, 2020
snoopy1267 says
Sounds like it was high 5 or low 6 figures given the $350k ask was seen as totally unacceptable.
Joshua says
Well she paid cash + equity for jolt.com and then traded jolt.com for ritual.com. I’m sure the equity she gave for jolt.com is worth a pretty penny now.
Snoopy says
She said she made money on the trade so I don’t think she gave away much.
Snoopy says
Some of these founders are very shrewd and will crunch the pricing right down.
Emeka says
She was smart in her acquisition..She knows jolt was short and worth more she said .
Most of them are shrewd as snoopy said.Some will raise funds and still offer you $5k for your name . Turned down a lot of those with no regrets.
Bar says
Great story. Funny, I sold ritual.io last year too.
Ritual is a great word apparently!
John says
Jolt.com, now that’s a nice one.
And I don’t even consume sugar or caffeine anymore. Except once in a blue moon for the latter.
Elliot Silver – let this be a lesson for you. Your Revitalize blows Ritual away and has *much* more potential.
Someone let him know. 😉
snoopy1267 says
Revitalize is a good name but Ritual is significantly more valuable. 2x-3X difference.