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Loom upgrades its brand and acquires Loom.com for $150,000!
Industry Information
01 Aug 2024 11:49:10 AM
Abstract:
The domain name Loom.com is being used by a company that allows users to record and share videos with various additional gimmicks.The company used the domain name UseLoom.com for operations between 2017 and 2018, while they also advanced
The domain name Loom.com is being used by a company that allows users to record and share videos with various additional gimmicks.
The company used the domain name UseLoom.com for operations between 2017 and 2018, while they also advanced the trademark registration for the Loom portion.
Acquiring the domain name Loom.com seemed impossible at first, and when the holder, a SaaS company, agreed to sell it for $75,000, they remained silent until a contract was signed; there was another buyer willing to pay up to $500,000 for the domain.
Fortunately, the Loom founders were able to negotiate compensation with the competitor, paying the company $75,000 to rebrand and withdraw the offer. It took another $75,000 from the domain seller to make this amazing combination of luck and persistence a reality.
In total, $150,000 was spent and Loom.com was renamed to UseLoom.com, a story shared by Loom co-founder Shahed Khan on Twitter.
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