Selling Off Drugs.com
from the buy-high,-sell-low dept
Last week, (admittedly, after something of a personal boycott) I ate at the Venture Frogs restaurant in San Francisco and all over the place were these weird signs for Zappos.com – which is apparently an online shoe store that I had never heard of (nor had the people I was dining with). It seems that that’s the business the Venture Frogs guys have decided to focus on, and in doing so, they’re selling off the domain drugs.com that they had bought for $800,000 a few years ago in a very well publicized auction. The article makes it sound as though they’re getting back the money they paid for it – though, I doubt that’s true. The price of domains has been dropping pretty rapidly these days. When they first bought the domain, the seller made a big statement about how the buyer, a “well-known internet player” was “buying it to use it”. Two years and they did nothing with it but sell it at a (probable) loss.
