Business.com has closed another chapter in its long journey from a $7.5 million million domain name bought on a hope and a prayer, selling to RH Donnelley for $350 million.
RH Donnelley beat out Dow Jones and the New York Times during the bidding. The site had been on the block since late June and drew a lot of attention for outlandish valuations that turned out to be closer to the truth.
The buyer, RH Donnelley, is a directory and online local commercial search company. They are responsible for several white and yellow pages directories across the country.
Business.com has turned into a business search directory, so the synergy between the two directory sites seems straightforward. The site also received a huge bump in traffic starting back in February according to ComScore.
Photo by Business.com.
LJ from YourFranchise.com on July 30th, 2007 at 7:33 am
It is really interesting to see how the ROI plays on these kind of deals. Ever since an article in Business 2.o regarding the domainer that is making big buck just by buying domains and parking them, there seems to be a jump in people interested in doing the same. But when spending that kind of money, it is certainly a risky business to play.
LJ