Price tag: $2.6bn
Sometimes websites are for sale – sometimes people are.
That’s what’s been happening to designer fashion site COS, with the owner of its domain name, Crypto.com, deciding to cash in on its .com flotation.
But Crypto.com has run into a wall of unexpected resistance. US regulators have told the owner he can’t sell the COS site name – which still has a month and a half of its 5-year prime to run – because the domain, being an auction only asset, should be protected from improper use.
“For the purpose of public notice it should be clear that the domain name was not otherwise purchased in connection with the owning, continuing use, or operation of any business” the powerful US Federal Trade Commission says.
This is serious stuff – Crypto.com launched its cash-and-cash-only listing last week and planned to sell it for $US2.6bn.
Now owner Antoine Quan-Caet won’t even give the “Unique access” registration to buy the site for $2.6bn, which COS calls “CDN” (chief access domain name) registration.