Last year, premium domain Chill.com changed hands in a deal brokered by Tessa Holcomb. It was acquired by Zoetic International, which rebranded to Chill Brands shortly before the acquisition was revealed.
At the time, no financial details of the sale were available, but now information has come to light suggesting a $1.6 million purchase price paid for over a period of time.
According to a press release, Chill Brands has paid off the remaining balance of $800,000 to complete the outright purchase of the Chill.com domain name.
Of the acquisition, Chill Brands’ CEO, Callum Sommerton, said,
I am pleased to have completed the acquisition of the Chill.com domain name. We are the proud owners of a highly brandable, premium domain asset reflective of a word that is pervasive in the everyday lives of consumers and is easy to say, spell, and remember. In an increasingly complex world, people everywhere are looking for ways to chill.
Those qualities are gold dust for marketers, and we intend to maximise the potential of the Chill.com domain by expanding and improving our brand which, in common with our consumers, should be bright, energetic and youthful.
The full acquisition price wasn’t revealed in the press release, but investor George Kirikos discovered a tweet from Sommerton from April 2022 confirming that the domain purchase price was $1.6 million. At the time, Chill Brands had paid $800,000 towards the purchase, but it has now paid the full amount.
Payment plans are becoming commonplace in high-end domain name transactions. A prominent example is the $3.8 million deal for IT.com, a fee that was originally structured to be paid for over the course of three years. Recently, IT.com chose to pay off its remaining balance early.