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09|18|2009 10:59 am EDT

Mint.com domain owner profits from sale of company

by Frank Michlick in Categories: Domain Sales

As reported by The Domains and Domain Name Wire earlier today, the former owner of the domain name mint.com stands to reap the rewards of the sale of the site to Intuit. But this was more than a simple domain name against stock deal and the previous domain owner was actually an investment firm.

According to TechCrunch the former owner of the domain name mint.com (Hite Capital), which was just sold with a developed site to Intuit for 170 million USD, received a significant amount in series A stock for the domain name, which should be “worth a ‘couple of million dollars,’ says one source [to TechCrunch], after the acquisition”. Hite Capital also invested money into mint.com in the series A and series B investment rounds – according to CrunchBase, so maybe they did not only give them the company the domain name. However they are not listed as an investor on mint.com’s website.

DomainTools whois history shows that the domain was owned by “Mint Investment Management Co.” in New York until April 19th, 2007. Aside from the floor (12th vs. 15th) this address also matches the current whois of HiteCapital.com, where the owner, admin and tech contact, Erik Jacobsen, also is using a @mint.com email address. Mint Investment Management Co. was founded by Larry Hite who also is an active investor and managing director at Hite Capital Management LLC

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5 Comments

Cindy

September 18, 2009 @ 2:32 pm EDT

Dude…..you are always so late on reporting these stories. It’ already old news.

No need to publish this….I just thought you should know that it does more harm than good when you put this out so late.

Frank Michlick

September 18, 2009 @ 3:09 pm EDT

Cindy: Thanks for your comment. I don’t quite agree that we’re always late on our stories and there are also stories that we also carry that the other sites do not have at all. However we have just discussed this topic internally yesterday.

In this case I felt I was adding research that no one else had, since I was able to point out that Hite Capital apparently also participated in both investment rounds and not just exchanged the domain against stock, something I have not seen covered on any other Domain Name news sites. Keep in mind, this is not about the mint.com sale which we already tweeted about when it happened, but about the domain name mind.com.

[…] This post was mentioned on Twitter by PaulK and Cindy Fox. Cindy Fox said: Mint.com domain owner profits from sale of company | Domain Name News http://bit.ly/2tc3Se http://bit.ly/13HrDW […]

stumblemusic on sedo

September 18, 2009 @ 4:30 pm EDT

Hite Capital made the money, and not an individual.

Adam

September 18, 2009 @ 5:00 pm EDT

Cindy. dude,
We’ve broken several of the biggest stories in the domain space including the P2P.com theft story most recently. Maybe you aren’t a frequent reader.

We generally don’t run a duplicate story unless we have something different to say or to add to what’s already being discussed. Also not everyone reads the same sites. Let’s face it though most of the blogs all get the same info from the same sources. Being first to publish a tidbit of info on a domain isn’t what makes a site better. The expectation at DNN is that we present the news with our insight,research and experience. That’s what our readers expect, I’m sure, first to the scene or not.

Frank consolidated several stories in this one post and did a good job of bringing together multiple sides. That article couldn’t have been released without the other posts coming out first now could it ? News sources are expected to grab multiple streams of info, consolidate them , summarize and present that info. . . That’s what we’ve done. Thanks again for your comments

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