TM Advertising sold its URL for $1.25 million
When most agencies are forced to close, they’re lucky if they can sell their computers, office chairs, and Keurig machines. But TM Advertising, which abruptly ended its 85-year existence this year, laying off all of its employees, found itself with a surprisingly lucrative asset to unload. The Dallas agency’s domain, tm.com, was reportedly sold for $1.25 million.
It is unclear where proceeds from domain sales will go (AgencySpy has contacted Becca Weigmanformer CEO of TM Advertising for a comment) but, according to an article in DN Journal, a site about domains, it all fell apart last month.
According to the editor and site editor ron jackson, the deal was made by VIP Brokerage founder and CEO Mark Thomaswhich means the owners of the tm.com domain probably couldn’t pocket the full $1.25 million, but still… it’s a pretty decent change.
In fact, if you keep the score at home, tm.com’s sale – to an undisclosed buyer – ranks fourth in DN Journal’s Top 100 Sales of 2019. The big winner so far is voice.com, which sold for a whopping $30 million in June and now caters to what appears to be a new social platform on its way to beta, which is probably another story on its own.
Other URLs that hit more than seven digits include California.com, EKO.com, and RX.com. The Miami-based VIP Brokerage has been in two of the top five, which is a pretty decent paycheck. According to the article on DN Journal (which took us down a 20-minute wormhole), Thomas has seen over $70 million in domain sales since starting this thing in 2015.
But we are digressing a bit here.
In October, Weigman told Adweek that the reason for closing the agency was “a financial decision” in “a very competitive environment,” adding that “three of our biggest clients have significantly reduced their fees. Although we won new business, we didn’t win fast enough. »
We’ll update the story if we hear from Weigman.
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