Any other business


Facebook spends $8.5m on buying

1 Mins

Facebook has paid $8.5m to purchase the domain name

Facebook acquired from the American Farm Bureau Federation (AFBF) last year. Although Facebook hadn’t disclosed the details of the deal, the AFBF revealed at its annual meeting that it earned $8.5m from the sale of to Facebook.

The hefty $8.5m price tag is more than 42 times the amount that Facebook paid for in August 2005.

The need to buy stems from the introduction of Facebook’s recently-introduced “Messages” function. Facebook “Messages” will allows users to combine SMS, messaging, chat and email into one interface, using an email address.

Facebook’s recent purchase highlights the importance for firms to look after, and own, the right domain names.

“Companies should view their domain names as valuable intellectual property  and should secure additional domains similar or associated with their identity,” says Steve Holford, director of Fasthosts Internet.

“Many cases of cybersquatting surround typos of company names, so these can sometimes be a prudent acquisition. Even some of the biggest online brands in the world have been caught out – so be sure to review your domain options regularly.”

What are the most expensive domain names ever bought? We’ve got the list here.

Share this story

Beating the blues: Jools Holland expands empire
Snowfall and fuel duty is killing SMEs
Send this to a friend