CNN Picks Up iReport.com
Perhaps we’re just happy it’s Friday, but this sounds like good news all around: CNN has bought the domain iReport.com for $750,000.
Michael Learmonth reports that the seller was Rick Schwartz, and that Schwartz paid between $70 and $100 to register both iReport.com and i-Report.com (which he tossed into the deal for free) in 1997. That’s a tidy enough profit to pay for a few Lamborghinis.
The arrangement, as a whole, is also a sort of endorsement of bloggers; even if so-called "iReporters" don’t necessarily put writing or recordings online, the same style of citizen journalism is a hallmark in both groups.
Want to look at this in a wider fashion? Call the sale a boost to eBusiness, considering that it took place despite the Nasdaq’s plummet. Or even a boost to the economy in general, since the DJIA took a similar fall.
All right, maybe our positive outlook is just caused by your typical Friday euphoria, but in any case, domain name sales of this magnitude are worth noting; Ron Jackson writes, "A $750,000 deal would have ranked among the 12 largest sales of 2007."