BitBuy.ca moves to BitBuy.com (1.Viewing)

Thank you [notify]GeorgeK[/notify]

Interesting, gotta go global with crypto I guess.

I see a lot of Netcoins.ca ads on tv, wonder if they'll switch to a .com at some point too?

domains said:

Interesting, gotta go global with crypto I guess.

I see a lot of Netcoins.ca ads on tv, wonder if they'll switch to a .com at some point too?

Click to expand...

It all depends on where you customers are - a lot of companies stick with Canada, so a .COM might not be a good investment. Others want to play in the worldwide market where a .COM is more than worth it.

It looks like BitBuy is a Canadian firm dealing with Canadians, so buying the .COM looks more like a brand protection strategy than anything else, at least right now.

This was way more than just a domain sale…it was a massive agreement. The company that is selling it manages a large domain name portfolio. Great deal for the company to make an agreement and get a piece of the pie for a domain name supposedly being used for the Australian market.

Is there an article or something on details from this sale? Was the .com being used in Australia before it sold?

The exact terms were in the announcement by the company, see:

https://www2.asx.com.au/markets/company/kgn (December 13, 2021 press release)
https://www.kogancorporate.com/ (December 14, 2021 annoucement)

namely:

Relevant details of the agreement are as follows:
● Kogan will transfer to First Ledger the domain: bitbuy.com (“Domain”)
● Kogan will provide advertising services to Bitbuy in connection with their future launch in Australia
● Upon transfer of the Domain, Kogan will receive:
○ USD$1.5m in cash; and
○ a warrant entitling Kogan to approximately CAD$2.8m in either equity in First Ledger or cash upon exercise of the warrant which will occur within one year after the transfer of the Domain.

So, it's a minimum of USD $1.5 million PLUS CAD $2.8 million in equity or cash MINUS the value of the advertising services (which are presumably nominal --- i.e. it's the domain name they want, as the buyers already own Bitbuy.ca and want to upgrade to the .com).

the kind of dream domain sale most domainers look for...

Netcoins is another crypto exchange in Canada. They advertise Netcoins.ca and also used to use gonetcoins.com

Now I see they have Netcoins.com, which forwards to the .ca

Wonder how and when they got the .com, didn't see any news about it.

this was in the Bitbuy email newsletter I get every week:


Bitbuy.com Acquired in One of The Largest Domain Acquisitions in Canadian History

Just weeks after becoming the first regulated crypto marketplace in Canada, Bitbuy has taken its first major step towards international expansion by purchasing the domain name bitbuy.com in one of the richest domain acquisitions in Canadian history.

The acquisition is part of a larger partnership between and Bitbuy and Kogan.com, one of Australia’s largest and most loved online retailers. The key elements of the agreement include the transfer of the domain as well as an advertising arrangement whereby Kogan.com will provide marketing support to Bitbuy’s future launch into the Australian market.

In announcing the agreement, Bitbuy Chief Operating Officer Jordan Anderson said, “Bitbuy has always set its sights on international expansion. Our experience and expertise in working within a highly regulated environment here in Canada gives us a great platform to succeed in other similar, or soon to be, regulated environments around the world. By partnering with Kogan, we not only obtain the domain required but also the services of an expert in the Australian marketplace.”

Kogan.com Executive Director David Shafer adds, “The domain sale not only delivers returns for Kogan shareholders but also provides an opportunity to benefit from Bitbuy’s future success in the crypto business abroad and potentially in the Australian market.”