Andre Yoskowitz
22 Oct 2010 13:38
The Sex.com domain has finally been sold this week, after being up for auction for 15 months.
Clover Holdings, a company registered in the Caribbean, has purchased the domain for $13 million, about $1 million less than what Escom LLC purchased it for in 2006.
Last June, Escom went bankrupt and the domain went up for auction.
The domain was originally purchased for under $100 in 1994, and then sold in 2006 for $14 million to Escom LLC, who could not afford the payments and then defaulted the site to DOM Partners, the lender who backed the $14 million bid.
Gary Kremen, the founder of Match.com was the original owner of sex.com, but he lost the domain to a con man named Stephen Cohen. Kremen then waged a decade long legal battle to regain ownership.
Cohen was subsequently fined $65 million for stealing the domain. Cohen was allegedly making $500,000 a month off the site during its heyday.