Ankur Nagpal, the founder and CEO of Teachable, penned a series of tweets offering an insight to what he would do differently the next time he launches a startup.
Among snippets such as spending as little as possible on traditional paid marketing and hiring a good corporate counsel, Nagpal mentions buying a premium domain name.
Nagpal’s company, Teachable, first launched in 2013 as Fedora, rebranded to Teachable in 2015 after raising $3 million in seed funding between 2014 and 2015.
According to a post by Mike Cyger on DNAcademy.com, Teachable acquired Teachable.com for around $25,000. Was it worth it?
10 – Buying a premium domain name upfront
If you raise $$, it's totally worth spending $20-50k to get a badass domain that makes everyone take you seriously
— Ankur Nagpal 🔥🔥 (hiring eng + design in NYC) (@ankurnagpal) September 26, 2022
According to this tweet, yes! The rebranding and acquisition of Teachable.com led to the company’s conversion rate dramatically increasing.
In the years following the rebrand, Teachable raised a further $10 million in funding, and in 2020, the company was acquired by Brazilian online education company Hotmart for a reported $250 million.
In Nagpal’s words, “it’s totally worth spending $20-50k to get a badass domain that makes everyone take you seriously.” How would the company have progressed under UseFedora.com?
As I wrote on DomainNameWire this week, Nagpal has followed his own advice with the launch of his new startup, Ocho, running on Ocho.com.