Internet

Sex.com Domain Name Sells for $13 Million

| by Mark Berman Opposing Views

One of the most famous domain names in the world has been sold -- for a whopping $13 million dollars. Sex.com will soon have a new owner.

Citing documents filed this week in a California court, the web site The Register reports that the domain name's current owner, the bankrupt Escom LLC, has a deal in place to sell it to a company called Clover Holdings Ltd.

According to the documents, Clover Holdings was chosen from among 12 bidders after making the "highest and best offer." The sale headed off an auction scheduled for next week.

Escom purchased the domain in 2006 for an estimated $12 million to $14 million dollars, making it one of the most expensive domains of all time.

Sex.com is a domain with a notorious history. Entrepreneur Gary Kremen originally registered it in 1994, but it was soon hijacked by convicted conman Stephen Cohen.

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The theft was challenged in court, but it took Kremen five years to recover the domain, during which time Cohen was reportedly making up to $500,000 a month from advertising on the site.

A court ultimately issued a $65 million judgment against Cohen, who escaped to Mexico and was eventually arrested. He was released from prison in 2006.

When word broke earlier this year that Sex.com was for sale, PETA asked that it be donated to the animal rights group so it could use it for its "vegetarians are sexy" ad campaign. Obviously, Escom said no, and decided to take the money and run.