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Web.com paid $7.4 million for SnapNames

  • Release time:2014-05-06

  • Browse:6007

  • Web.com paid $7.4 million for SnapNames and hopes for a revenue contribution of $5 million this year.

    Web.com paid $7.4 million cash to acquire SnapNames from KeyDrive, the company revealed on its investor conference call yesterday.

    The company described it as a “small tuck-in acquisition” at a financially attractive price.

    Web.com expects SnapNames to generate about $5 million in revenue for its period of ownership in 2014. The acquisition became public on March 1, so this suggests annual revenue of around $6 million.

    The company, which owns registrars Network Solutions and Register.com, obviously hopes to grow the business and included growth in its forecast for the year.

    Web.com CFO Kevin M. Carney remarked, “As we kind of get our hands into the business and start making some changes, we’ll see those margins improve over the course of the year.”

     

    Any uplift won’t come from moving its own expired domain name inventory from competing service NameJet, a joint venture between Web.com and Demand Media (Rightside). Web.com is apparently contractually bound to continue sending its expired domain inventory to NameJet for the time being.

     

    Erant as one of the first ICANN (The Internet Corporation for Assigned Names and Numbers), Verisign, HKDNR, and CNNIC (The China Internet Network Information Center) accredited registrars, We always support ICANN new Launch program and promotion, Eranet is also a leading provider of services in domain name registration and web hosting.
     

    New users get .CN domain at 5 USD!

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    Note: The default price is US$17.96, you need to send your user ID to support@eranet.com. We will modify the price to US$5.\ufeff
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