In 1996 bought IT entrepreneur André Eidskrem (45) from Aalesund domain by.com for under $ 5,000. Now he’s hoping to sell it for several million dollars.
This is the story of IT entrepreneur who started a company to pay your student loan, struck in Belarus and China, and received a data giant in Silicon Valley hook.
Monday 11 January will receive André Eidskrem from Aalesund know how much someone is willing to give the Internet address by.com. This is the date of a domain auction in Los Angeles. The preliminary bid lies inside is at $ 600,000, ie five million Norwegian kroner. But this is below the minimum threshold, which is currently a secret sum.
The reason for the hype is marketing value.
– The short domains are easy to remember and communicate, and is often very aptly, says Torgeir Waterhouse, Internet Editor of ICT Norway.
How was Erik app millionaire: – There was little waste
Science Fiction
– By.com will in any case be sold for a million dollar amounts. It is very gratifying, says Eidskrem VG.
– What would you say if someone told you this back in 1996?
– I must have seen it as science fiction.
He has been an entrepreneur since 1990. At that time he was a student at the School of Bergen, and started their own company in order to finance their studies. In the years since, has Eidskrem been part of a tremendous development of the Internet.
In 1996 he bought by.com by an American.
Domain contrary: Trine Grung purchased other net names and chained to itself
– The time there was an awful lot of money to spend $ 5,000 on a domain , when it usually cost ten US dollars to register one, says Eidskrem.
Sold in decades
The idea of by.com was to gather information on all Norwegian cities under one domain, for example by oslo.by.com and stavanger.by. com. It Ålesunds-based data company IntraHouse delivered content to the pages, while Eidskrem is general manager and owner of the domain.
Gisle Hannemyr, internet expert and lecturer at the Institute of Informatics at the University of Oslo, praised the farsighted choice.
– The Internet’s childhood did you buy domains for just a few dollars. I never understood that one could become rich on this, but it was obviously someone who did. Both domains with two or three letters and words in the dictionary was sold out when I checked in 1997, he says to VG.
Hannemyr adding that it is disputed how important it is to domain names, since many uses google or other search engines to locate network services.
You got? Routes spent NOK 24,000 on domain worth 5000
Will sell to get bigger
It would prove that Eidskrem two letters were extra valuable also in Belarus.
– Right after I bought the domain, I was contacted by a Russian oil company that would have the domain. ISO code (for example “.com” in Norway, editor.) For Belarus is precisely city. Thus, I started a company in Belarus as well.
So it took off in China, where the letters b and y should be readily available on the keyboard. Simultaneously by.com Engine for VG and other online newspapers in Norway.
In 2007 Ålesunds firm IT company Cisco, one of the largest companies in Silicon Valley, as a customer. Now they will launch an international mobile platform for data giant, and need the money the domain can provide.
See also: Sex sells well as the domain name
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