Investor makes a gutsy move with Yachts.com acquisition.
Borgos has had an up and down history investing in domain names and building websites. His biggest success was selling a network of sites including Bored.com for $4.5 million in 2008. You can listen to a podcast with Borgos here.
His story about acquiring Yachts.com is interesting and gutsy. He knows it’s a good domain name but didn’t know how he’d develop the domain until after he bought it. Instead, he figured spending so much money on the domain would be a kick in the pants to get him to find a way to make money with the domain.
“…my simple plan was that if I spent so much on a big domain, I would be forced to focus all my time and effort on it and eventually figure out what to do,” he wrote on his blog.
Even more surprising, Borgos says he doesn’t know anything about boats.
For now, Borgos has settled on creating a boat charter site. It will be fun to see how this progresses.