The two most common complaints I hear from startup founders trying to buy domain names is usually either:
- The owner won’t respond to me
- The owner wants a ridiculously high price
A new domain marketplace, CheapDomains.com is looking to change that with a “startup-friendly” marketplace where people are responsive, prices are reasonable, and flexible leasing options can help make a deal happen. The leasing option is a big one IMO since many startup founders often have small budgets now, but will have bigger ones later down the road so spreading out payments can make a meaningful difference.
I’ve often only seen lease deals offered on domains above a certain price but on Cheap Domains you can even lease a domains priced under $2,000 which is something I haven’t seen very often. This means that you could pay a few hundred dollars a month and get a domain that was once totally out of your budget.
The founder of Cheap Domains is startup founder and a long-time domain industry veteran Ken Lawson, who actually started buying domains back in 1996. Ken is the founder and CEO of DDC and also runs Townsgate Media, a venture fund (see portfolio companies) that makes early-stage investments in startups.
It’s something I’d like to see more of, a domain marketplace run by a successful startup founder that wants to make it a little bit easier for startups to buy domain names. There are a few other marketplaces out there that are also run by successful startup founders, Frank Schilling’s Uniregistry Market is probably the best example of another startup founder and domain veteran that has also made a “startup-friendly” place to buy domains.
What is really comes down to is the fact that startup founders are busy, and spending months trying to get in touch with a domain owner only to find out they want $400,000 for a domain you had a $3,000 budget for isn’t a great way to spend your time. Knowing what the price is upfront, and having the option to lease it if it’s not in your budget makes a lot of sense and so far it looks like they have some pretty solid domains on the site.
Congrats to Ken and team, looking forward to following along with the adventure!