Interesting Domain story from Kogan.

[James]

So tonight I was at a retailers event where Ruslan Kogan was presenting as the key speaker on the night. He talked about how he set up the business and how he has grown it to making 100's of millions in sales. Some interesting tactics and tips for any one in the space. Things like paying school kids to take his products to school near Christmas so then other school kids will want them as presents hehe.

A funny thing he said tonight was that "Recently he purchased the Kogan.com domain and paid Several hundred thousand for it"...

He said that was one of the biggest mistakes he has made in business not buying the domain in the early days before the business got the size it is now.

But after the event I went and had a chat to him, really down to earth guy, takes time to chat with everyone.

Overall it just shows you if you get into business you want to try and get the domain early before you get big and loose big money.

 

[Ashman]

I don't see how Kogan lost big money by not acquiring the domain earlier. He paid market value for the .com all while making 100's of millions in sales.

In terms of a marketing expense the cost of the domain is only 0.25% of revenue. Which in Kogan's industry I suspect would be in the range of a normal operating cost.

 

[snoopy]

I don't see how Kogan lost big money by not acquiring the domain earlier. He paid market value for the .com all while making 100's of millions in sales.

In terms of a marketing expense the cost of the domain is only 0.25% of revenue. Which in Kogan's industry I suspect would be in the range of a normal operating cost.

I think he has paid too much, most domainers would see it straight away and jack the price right up.

Agree with the general sentiment here though. If he had been able to buy it for say $10k when he was starting out and had little money is that a better move than paying $300,000 when you have say $100 million in the bank? Better off waiting in this instance.