What’s a name worth? Quite a bit, if you ask Facebook, which paid $8.5 million for the domain name FB.com, purchased last year from the American Farm Bureau. Mashable reports:
How much money did Facebook fork over when it acquired Fb.com last year? A cool $8.5 million, more than 42 times the amount the company originally paid for Facebook.com.
Facebook acquired the domain sometime last year from the American Farm Bureau Federation, which uses fb.org as its primary domain. At its annual meeting in Atlanta, the non-profit revealed that it earned $8.5 million on the sale of fb.com, according to Reuters.
The last high-profile domain purchase by Facebook was for Facebook.com, all the way back when it was known as TheFacebook. The company paid $200,000 in August 2005 to acquire the domain, 42.5 times less than what Facebook spent to acquire fb.com. While the Facebook.com purchase was expensive for the company back then, it’s an investment that has clearly paid off. Clearly the company’s hoping that fb.com will fall in the same camp.
I bet that whoever owns f-b.com, fb.org, effbee.com, and any other variation (or bastardization) of the name is chomping at the bit for a Facebook offer. In any case, it’s a good move for Facebook, which I’m sure will be able to capitalize off the short-and-sweet domain name.