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01|18|2011 11:37 am EDT

NameDrive Restructures, Receives Investment

by Frank Michlick in Categories: PPC industry

Apparently, the news is not just that James Tuplin, the Director of Operations, in the UK is leaving NameDrive, as The Domains reports, but there’s bigger things happening. The first hint at this came from a rumor posted on Facing The Absurd in October 2010 during DOMAINfest Prague stating that KeySystems is buying NameDrive. Back then, when DNN contact the involved parties about, they unofficially confirmed they were talking, but it looked like there was no deal in sight.

Things may have changed. As DVMag reports (in German), NameDrive has now relocated from Cologne to Luxembourg, as per the company’s website.

About NameDrive - from NameDrive.com

DVmag goes on to say that the people that continue to work for the company have already been working in Luxemburg. Another interesting note is the new General Manager of the company, Michael Riedl.

According to his profile on the companies’ website, Michael Riedl has been the “Investment Director” and “Secretary of the Investment Committee” at BIP Investment Partners since 2008. NameDrive apparently has become part of the BIP Investment Partners portfolio. He’s also part of the board of Key-Systems and was one of the speakers at the Meet Domainers event in Poland held in August 2010. BIP has invested in EuroDNS, Key-Systems and Domaininvest amongst other companies, such as the broadcaster RTL group, where BIP holds an investment of 58 million € and 9.4 million € in Shell.

  • Key-Systems: 6.8 million € for a share of 33.33%, placing the company value at 20 million € at the time of the investment.
  • EuroDNS S.A. 6.4 million € for a share of 20%, placing the company value at 32 million € at the time of the investment.
  • DI S.A. (formerly known as Domain Invest): 2.5 million € for a share of 9.91%, placing the company value at 27 million € at the time of the investment.

BIP is publicly traded at the Luxembourg Stock Exchange and recently saw its price increase from 50 € to over 60 €.

NameDrive followed up with an email to their parking publishers and is promising additional information – read it after the jump.Email from NameDrive to their publishers:

The restructuring of NameDrive is a great chance to further expand our presence in the
global domain name market. BIP’s recent investment secures the financial means to
realize new innovative products and services and in turn achieving an even broader presence.

The international domain parking provider NameDrive is now composed of the main Corporate office, NameDrive S.A. (Luxembourg) and three subsidiary offices:  NameDrive EU SARL (Luxembourg), NameDrive SRL (Romania) and NameDrive LLC (USA). While the offices in Luxembourg and the USA are primarily responsible for the day to day operational business, NameDrive SRL (Romania) is in charge of technical development. The Cologne subsidiary has now been merged into NameDrive EU SARL with the entire team relocating to Luxembourg.

Starting with the next parking payout, payouts will be sent from the NameDrive SARL’s Luxembourg bank account. The currency for all payouts will remain in USD, and any banking fees are, as usual, covered by NameDrive.

Those who defer parking payments will have credit descriptions listed within the “Payments” section of their NameDrive account next week. NameDrive’s new address and tax code will be associated with your credits at this time.

For our clients the day to day business of NameDrive remains the same and the only notable difference for you, the client, will be the origin of the parking payouts. NameDrive remains committed to providing you with the same excellent services and now, with our new financial backing, we are excited about making NameDrive even better.

If you have any further questions, please do not hesitate to contact us at info@namedrive.com

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8 Comments

Freddy

January 18, 2011 @ 12:11 pm EDT

Guys! Welcome to lux and good luck!

Craig - NameDrive

January 19, 2011 @ 7:01 am EDT

James will be greatly missed by all at NameDrive, as a collegue of his for a number of years I speak for us all when we wish him all the very best.

NameDrive’s recent investment means greater opportunities for expansion within the market and we have a number of new products and features being launched in the coming months.

Although a couple of our collegues have moved on to other prospects, We have a strong expierienced core team, and are expanding with new, fresh faces and ideas to follow.

All accounts previously managed by James have been transitioned to new account managers and most have recieved emails from the new manager and the rest will be sent out within the next few hours.

A more in depth view of NameDrive’s new structure will be released very soon but in the mean time if you have any questions please don’t hesitate to let us know, info@namedrive.co.uk

Thank you for your continued support,

Craig - NameDrive

January 19, 2011 @ 7:06 am EDT

Thank you Freddy for your kind welcome, We promise to bring everyone the same, great level of service as before and bring new and bold ideas to the table.

Hope to see you soon,

Craig

[…] of the investment and reorganization was first reported by Domain Name News on Tuesday. [Update: DNN's source was […]

[…] of the investment and reorganization was first reported by Domain Name News on Tuesday. [Update: DNN's source was […]

Customer

January 23, 2011 @ 11:51 am EDT

They failed to mention the USA reconstruction and how they closed the New York office to have one in Texas. They let workers go and never rehired. Customer emails go unanswered.

Craig - NameDrive

January 24, 2011 @ 7:27 am EDT

Although as mentioned the restructuring has affected all parts of NameDrive and as you correctly say some employees are moving to Texas. This is simply so that the majority of our US team are located together to improve communication and customer service.
During these changes there may be some slight delay in answering your mails although they should all be getting answered by the next working day at the latest.
If you are having difficulties due to a parking request please let me know parking@namedrive.com and I will be happy to help out.

[…] ICANNWiki entry earlier this month.NameDrive had been restructured and received an investment by BIP earlier this year.While information on the new holding is not yet available in the registry of Luxembourg, DVMag was […]

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