Investor’s Business Daily: Domain Name Game Still Going Strong

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Investor’s Business Daily: Domain Name Game Still Going Strong

Feb 11, 2008 11:41 AM PST | Comments: 0

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Demand Media, based in Santa Monica, Calif., received $100 million in a funding round last July, led by Goldman Sachs and has raised $320 million since its launch two years ago… “This field got started by a group of very early adopters, bold business people willing to take the risk,” said Courtney Montpas, an executive vice president at Demand Media.

Another big player, Oversee.net, last month said it received $150 million in a funding round from private equity firm Oak Hill Capital Partners. Oversee.net owns 700,000 domain names and helps service and maintain another 2.4 million domains owned by others. Oversee also has a $100 million credit line from Bank of America, says Lawrence Ng, Oversee CEO. Ng co-founded Oversee in 2000 with $10,000, in a 400-square-foot office in downtown Los Angeles. Today the company occupies 56,000 square feet on two floors of an L.A. high-rise. He says sales last year topped $200 million, up from $125 million the year before.

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