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News
iPhone.com Domain Sold to Apple for Seven Figures
Monday, July 2nd, 2007 at 4:00 PM - by John Martellaro
Apple has bought the domain, iPhone.com, from businessman Michael Kovatch in one of the largest domain name sales in history, according to DomainTool blogger and CEO of Name Intelligence Jay Westerdal on Monday.
The sale was estimated at more than $US1M.
Michael Kovatch acquired the domain name in 1995 and has been using it ever since in his business. The active use in his business over the last 12 years gives him the right to keep the domain name. Even though traffic to his site has skyrocketed, Mr Kovatch apparently decided to take Apple’s cash rather than exploit the (now) accidental domain naming.
For awhile, he actually considered not selling, but finally relented. Mr. Westerdal, who has a distinguished history in Internet Domain technology, wrote, "It is extremely critical that Apple own the domain. The headaches would have just compounded had they not owned the domain."
As a result, Mr. Kovatch’s estimated seven digit sale is one of the biggest in Internet history.
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