Andrew Warner, host of the business podcast Mixergy, has a good eye for a domain name and isn’t afraid to ask questions.
In his interviews with company founders, Warner often brings up the subject of domain names, especially if a company is operating on a premium name. The Mixergy host previously persuaded YouTuber and Enemy founder Aaron Marino to reveal that he paid $43,000 for the Enemy.com domain.
More recently, Warner interviewed Joseph Woodbury, CEO of Neighbor, a company described as the Airbnb for storage.
Founded in 2017, Neighbor provides a marketplace for users to both find and offer storage space, whether that’s a spare room, a garage, or even a driveway. The company has gradually expanded over the past 5 years now covering the majority of the US.
Neighbor has always been branded as Neighbor, but the company began life on Neiybor.com, then moved to the StoreWithNeighbor.com domain until it secured the Neighbor.com domain in 2018. The price paid for the domain name has remained unknown, until now.
Thanks to Mixergy, we now know that Neighbor paid $200,000 to acquire Neighbor.com. The deal for Neighbor.com was facilitated by brokers Media Options, as confirmed by the company this week.
The full story of the deal is available on Mixergy’s podcast at around the 56-minute mark, but in short, persistence helped Neighbor to secure the domain name. Woodbury also said that Neighbor reverse financed the domain, allowing the company to pay a monthly fee for the domain name until Neighbor paid its complete balance when the company secured a $10 million Series A funding round. This type of financing is offered by companies such as DomainCapital.
If you’re interested in reading about Neighbor and its domain name, I conducted an interview with Woodbury in 2021 that you can read here.
The sale of Neighbor.com would be tied for the 40th largest domain sale of 2018 if it is ultimately listed by DNJournal.
