Sex.Com Bought For £13 Million By Company In Caribbean
The lucrative Sex.com domain name has been sold for $13 million by its owner Escom after being put-up for auction in July.
According to the BBC, around 12 companies were bidding for the domain name before it was purchased by Clover Holdings, which is registered in Caribbean island of St Vincent.
However, the sale of the domain name will only be finalised after the bankruptcy court gives its approval. The court is expected to announce its decision on 27 October.
The amount paid for the domain name is among the highest ever offered for a domain name. Escom itself had acquired the domain name for $14 million.
The highest money ever paid for a domain name is $16 million, which was paid by QuinStreet to purchase insure.com in 1999.
The coveted domain name was originally owned by Gary Kremen, who registered Sex.com in 1994. Kremen was conned out of the ownership by Stephen Cohen, who was asked to pay a penalty of $65 million after a long ensuing legal battle.
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