Logo.com, LLC this morning announced that they have bought the domain name Logo.com for $500,000 through domain marketplace Sedo. The company was – obviously – formed in order to act as the parent corporation of what the site will become, and to facilitate the domain purchase.
The company, which will provide logo design and related services to small businesses, was founded by veteran domain investors and ecommerce developers Adam Strong and Alan Townsend.
Logo.com will provide logo design as well as website design, business card and letterhead design and printing services. The company also plans to introduce other small business services, such as domain registration, Internet marketing consulting and accounting.
The launch of the website is scheduled for Q1 2011.
Strong and Townsend plan on establishing Logo.com as a global brand.
They make a compelling argument for having spent half a million dollars for the domain name, which was first registered back in 1995, based on that strategy:
“The word logo translates the same in English, German, French, Italian, Polish and other languages. Once they visit our site, we’ll give these customers the ability to shop in their own language. Because the word logo is relevant in so many countries outside of the U.S., Logo.com gives us the ability to compete on country specific search engines.”
Adam Strong is President of Strong Inc., a domain development and brokerage company, and has been involved in the sale of over $10 million in domains through his company DomainDealer.com. He’s also the co-founder of DomainNameNews.com, an online domain industry news publication.
Alan Townsend most recently served as President of Ecommerce at Personal Creations, a retailer of personalized gifts, which was acquired by Provide Commerce in July 2010. Townsend has also developed and managed some of world’s leading domain names including Christmas.com, ValentinesDay.com, MothersDay.com, FathersDay.com and many others.
The price tag on the domain name puts the sale in the eleventh spot of top sales for 2010, tied with IPO.com but well behind number one, Slots.com ($5.5 million).