Major financial services companies may launch a bidding war to acquire the one-word Internet domain name Approved.com when it goes on the auction block March 28th. Based on the positive connotation of the word “approved,” and the relevance to banking, insurance, and credit card companies, domain name industry experts anticipate the URL will generate significant interest and should command a multi-million dollar price.
“With a built-in slogan like, “Get approved at Approved.com,” and the potential for an immediate `brand identity,’ this name definitely qualifies as a `premier’ property,” said Eric Harrington, Vice President of HitDomains.com, a web site devoted to the domain name industry.
“With the recent sale of `Loans.com,’ there are not many names left in the financial services market segment with as strong a brand identity as Approved.com. Businesses and consumers immediately recognize the value of the name as a place to go on the Internet to get an approval. The Approved.com name carries a positive image to the end-user applicants for any product or service,” said Harrington.
Any business that deals with processing applications can derive value from the name Approved.com, including insurance companies, issuers of credit and credit cards, banks, and mortgage companies. With minimal marketing, Approved.com can be positioned to attract a significant share of the multi-billion-dollar credit approval and insurance industries.
The on-line financial services market is expected to grow rapidly over the coming years. Independent research company Forrester estimates that Internet-sourced loans are expected to triple by 2004. Credit card loans should increase 1.4 million to 3.6 million; car loans are expected to increase by a multiple of more than 12.5 from 75,000 to 950,000; and mortgages may increase six-fold from 190,000 to 1.2 million.
“These kinds of fundamentals made Bank of America’s $3 million purchase of Loans.com a good investment. That’s why someone should easily pay at least a third of that for Approved.com,” according to Harrington. “We see many companies struggling to brand their domain names; this one comes in a shiny package with a built-in brand name.”
All offers and inquiries regarding the Approved.com domain name should be submitted through the HitDomains.com web site. Approved.com is featured on the HitDomains.com front page under the “Elite Domains” category. Additional information about the domain name is provided there, along with detailed bidding instructions for the pending auction date scheduled for March 28th. For information on the Auction, or to present a pre-auction offer, please contact HitDomains.com.
HitDomains.com (http://www.HitDomains.com) is a domain name, intellectual property and web site brokerage firm based in Ft. Lauderdale, Fla. Since 1996, the company has been brokering Internet business transactions, as well as providing web hosting, web design and domain name registration. HitDomains.com incorporates a strategy of integrated capital investment and active involvement, creating a collaborative partnership with investment companies.Details