The suitors for Sex.com have been put off for now. An auction for the much-sought-after domain name was canceled Wednesday after three creditors filed a petition forcing the owner into bankruptcy. Escom LLC paid a reported $12 million to $14 million for the domain name in 2006, but the company was unable to repay the debt. The lender ordered the foreclosure sale.
Escom acquired the (arguably) most valuable domain in the world and they were unable to earn at least $14 million to pay for the domain during the past four years.
I’m unclear about the statement in the article that Escom was never given a chance to make its money back. What does that mean? What was keeping the new owners from basically printing money on such a lucrative domain?
More at Boston.com.
