Mint.com domain name sale worth about $2 million.
Hite Capital sold the Mint.com domain name to the recently sold finance web site for equity a few years ago. It has paid off, according to an article by Michael Arrington on Tech Crunch.
…Mint gave a “substantialâ€ amount of Series A stock to Hite Capital in exchange for the Mint.com domain name. That stock was worth a “couple of million dollars,â€ says one source, after the acquisition.
Not bad. For Hite Capital, selling a domain name for equity paid off. (It’s not clear if there was cash involved in the transaction as well.) But selling a domain for equity doesn’t always work out as planned. One high profile case is Business.com, which Marc Ostrofsky sold for $7.5M in 1999. But that wasn’t cash; it was equity. And according to the buyer, it ended up redeeming that equity for only $2.0M in 2004.