As we’ve read countless times over the last few weeks, Social.com is up for auction. Nobody is going to be more excited if it sells than Scott Carter, the present owner of the domain. DomainFest Barcelona has picked up the name as their headliner in the upcoming Live Auction on Wednesday. It’s the kind of story that all original domain investors dream about. Carter registered the name in 1995, holds the name for 16 years until he finally gets the millions of dollars. Of course, Carter would have settled for a lot less back in 1997 and again in 2007.
According to TechCrunch
Social.com was not always such a hot commodity. Back in 1995, Carter wanted it for a dating site. “It was my intention at the time to build a dating web site to compete with Match.com,” he tells me, “but the effort never got underway. Social.com wasn’t my first choice, but I thought the name was okay.” He ended up using it for a discussion forum called The Social Cafe, which was named a “Cool Site Of The Day on June 22, 1995.
Carter put the domain up for sale in 1997 for $50,000, but had no takers for two years. He tried using the site to promote different businesses, including a social networking directory from 2007 to 2009 and most recently his Twitter tool BigTweet. “I never did quite come up with the right way to develop Social.com,
It also went up for sale in 2007 with no sale and not much has changed in the domain marketplace other than the upcoming influx of VC capital and IPO money being thrown at high flying start-ups. My bet is that the name gets sold in the next few weeks either at the auction or a deal after the auction. Somebody is going to buy this name and while I don’t think it will be the $5 million Carter is seeking, it will certainly be in the millions. In today’s world the word social may be one of the most valuable words on the Internet. Compare the purchase of this domain vs the cost of one commercial and you’ll see that the price is still a true bargain compared to other marketing expenses.