Company’s experience with Envelopes.com convinced it of the power of category-defining .com domain names.Yesterday I wrote about how BIGNAME Commerce, the parent company of Envelopes.com, purchased Folders.com and Bags.com. I caught up with BigName Commerce CEO Seth Newman this morning to learn more about the company and its latest acquisitions.
Envelopes.com is a 46-year-old family owned business that was previously known as Action Envelope. In 1999, the company passed on the opportunity to by Envelopes.com for just $10,000.
Newman obviously came to regret that decision. After eight years of negotiation, he finally acquired the domain name for $400,000 in 2009 and rebranded the business.
As his latest acquisitions show, Newman strongly believes in the power of generic, category-defining domain names. But he points out that not all category-defining domain names are ideal.
“I am a tremendous believer in [category-defining domains] and I think that for a non-branded product, it is the best thing to have,” Newman said.
The non-branded part is key, he explained. Click here to continue reading…