19 August 2017
visit www.avoka.com

Insure.com name and site sold for $16m

12 October 2009  |  6153 views  |  1 Dot COM

A US insurance broker has sold its insure.com corporate and domain names, and related "media assets", for $16 million to marketing outfit QuinStreet.

Originally founded in 1984 as Quotesmith Corporation, Nasdaq-listed Insure.com provides consumer information and also operates a companion insurance brokerage service.

It acquired the insure.com name and Web site for $1.6 million in December 2001 but has now cashed in, selling them for an immediate cash payment of $15 million, with a further $1 million due after 365 days.

The company says it will change its corporate name to Life Quotes. It will use the Life Quotes and Consumer Insurance Guide brand names, retaining all of its remaining balance sheet assets, national brokerage contracts, call centre operations, customer and prospect lists and nearly all of its current inbound affiliate and traffic partnerships.

Robert Bland, CEO, insure.com, says: "This transaction has other benefits to our shareholders and employees in that it will allow us to focus on our brokerage operation and insurance marketing businesses."

According to some reports, the deal is the biggest ever price paid for a domain, beating sex.com, which went for a reported $12 million in a private sale in January 2005.

Last year WallStreet.com failed to sell at a Florida auction after bids fell short of the owners' $5 million reserve price.

Comments: (1)

A Finextra member
A Finextra member | 12 October, 2009, 15:27

If this isn't a sign that exuberance has returned, I don't know what is. 

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Goldman slayed by blogger

Goldman slayed by blogger

16 July 2009  |  7145 views  |  0 comments
Afterthebailout.com domain owner seeks $1m in eBay auction

Afterthebailout.com domain owner seeks $1m in eBay auction

20 October 2008  |  5431 views  |  0 comments
Cyber-squatters jump on Wall Street woes

Cyber-squatters jump on Wall Street woes

17 September 2008  |  7143 views  |  0 comments
Maestro loses UK domain name fight

Maestro loses UK domain name fight

15 January 2008  |  8112 views  |  0 comments
WallStreet Web address fails to sell

WallStreet Web address fails to sell

15 October 2007  |  3586 views  |  0 comments
Typosquatters target credit union domains

Typosquatters target credit union domains

13 September 2006  |  6084 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.dorsum.euvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
8671 views comments | 23 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7682 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
6924 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6348 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
6199 views comments | 11 tweets | 9 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job