26th July 2007
Business.com changes hands for $350m
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There has been huge interest in the generic domain name Business.com but after the huge sum of $350 million changed hands, publishing firm RH Donelley became its proud new owner.
RH Donelley, a yellow page and local search firm, beat several competitors including News Corp. and Dow Jones, but once the bidding got past $300 million it was just the New York Times and RH Donelley left in the game.
It is an expensive acquisition but one which RH Donelley hopes will be a scheme good enough to conquer its rival Idearc.
"Analysts say Donnelley, which operates DexKnows.com, receives less than two per cent of its revenue from the internet, while Idearc, which owns SuperPages.com, receives about nine per cent," says PaidContent.org.
RH Donelley hopes that going online will be lucrative as it has been for Business.com's previous owners, Sky Dayton and Jake Winebaum.
They paid $7.5 million for it in 1999 and achieved limited success with is as a business portal until turning it into a directory search business with a business-to-business pay-per-click ads service and raising a $10 million round in 2004.
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