Thursday, February 27, 2014
Pricetag For TrueCar.com's New Domain, True.Com: $350,000
Santa Monica-based TrueCar, the online car pricing site--which has made its name from revealing the full pricing details behind local car purchases--said this week that it had acquired a brand, new domain--True.com. However, the company didn't announce the price it paid for its shiny new domain name. That said, the price--like the price of cars that TrueCar provides through its service--isn't a secret: apparently, TrueCar paid $350,000 in cash for its domain name. Unlike the autos tracked by TrueCar's price tracking service, True.com is actually pre-owned: the domain was last owned by now defunct dating site True Beginnings. Taking a gamble on finding a good domain name is not a new business in Southern California's technology industry. Perhaps among the most (in)famous was the $7.5M in stock Business.com paid for its eponymous domain back in 1999 to domain entrepreneur Marc Ostrofsky.