BIRMINGHAM – What’s in a name? Well a million dollars for a Southeast Michigan Internet entrepreneur who paid seven figures to buy the domain name Vibrators.Com.
Tom Nardone, founder of ShopInPrivate.Com, could barely afford the purchase, especially in these tough economic times. But there is something special in the combination of PriveCo’s business strength and this name, though, he said, and that combination might be enough to make the deal work.
PriveCo was founded in 1998 on the principle that some items are best bought in complete privacy. Back then, the Internet was new and shopping online was a novelty. PriveCo began selling embarrassing products online ShopInPrivate.com. Customers responded positively to a brand that promised personal items and complete privacy.
In the early days, PriveCo, whose name is a contraction of the words private and company, was a one-person operation. The company began in a spare bedroom. Now, ten years later, PriveCo is a thriving operation whose warehouse ships 1500 plus packages per week. Still, they are privately owned, and not wealthy.
So what possessed them to spend $1million on a domain name?
It is an instantly recognizable name,
Tied to products that people want to buy in complete privacy
Customers will value PriveCo’s policies and services
Competitor websites lack professionalism and tact
PriveCo has strong experience in this field
Vibrators.Com stocks 300 kinds of vibrators. When asked why vibrators are such a big sales item, Nardone said: “I guess there are a lot of people with stiff necks.”
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