eCOMPANIES PAYS $7.5 MILLION FOR BUSINESS.COM DOMAIN NAME
Internet Incubator Developing Broad Business-to-Business Service
Santa Monica, Calif. - (November 30, 1999) - eCompanies today announced it has purchased the Internet domain name, Business.com, for $7.5 million. eCompanies will use the Business.com domain and brand for its upcoming business-to-business Internet service.
"Business.com is the highest order business-to-business domain name and is a perfect match with the service we are building in the eCompanies incubator," said Jake Winebaum, co-founder of eCompanies. "We plan to make Business.com the Internet's preeminent business brand."
"On the Internet, the brand is the key to winning," said David Aaker, author of Building Strong Brands. "With the Business.com name, at least 75% of the brand building effort has been done."
eCompanies acquired the business.com domain name from Marc Ostrofsky, a successful Houston-based media entrepreneur, who recently sold his business-to-business magazine and conference company, MultiMedia Publishing Corp., to Primedia. Ostrofsky will play an advisory role with eCompanies in the development of the Business.com brand. Winebaum is serving as interim CEO of Business.com.
About eCompanies
Established in June 1999, Santa Monica-based eCompanies combines an execution-driven Internet incubator, eCompanies LLC, with a strategic venture fund, eCompanies Venture Group L.P.
eCompanies was created by Sky Dayton and Jake Winebaum to rapidly launch Internet start-ups that will grow into profitable, long-lasting franchises. eCompanies will provide the essential services start-ups need from a range of disciplines, including strategy, finance, people, creative development, technology, business development and marketing. eCompanies has hired blue-chip executives in each discipline, both from the online and the off-line worlds, so entrepreneurs can tap not just into Dayton and Winebaum's expertise, but a whole team of "second generation" Internet veterans who've done it before.
eCompanies' corporate headquarters are located in Santa Monica, CA. Additional information is available on the company's Web site, http://www.ecompanies.com.
For more information, please contact us at
info@ecompanies.com
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