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Lehman domain names rake in big cash

Lehman domain names rake in big cash
PTI
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First Published: Wed, Sep 17 2008. 04 21 PM IST
Updated: Wed, Sep 17 2008. 04 21 PM IST
New Delhi: Many find business opportunities even in a crisis. The collapse of Lehman Brothers into the world’s biggest-ever bankruptcy has led to hundreds of internet domain names related to the 158-year investment banking major being sold for a few hundred dollars.
Some domain names currently on the block at various web auction sites for prices ranging from $100 to $1,000 are FallOfLehman.com, CrashOfLehman.com, TheLehmanCollapse.com, LehmanBankruptcy.com and DestructionOfLehman.com.
Not to be left behind, others are seeking to cash in by selling domain names like MerrillLynched.com and even a full package of Lehman, AIG and Washington Mutual bailout websites.
The scramble for selling these websites began when Lehman was filing for bankruptcy protection and Merrill Lynch was being bought over by Bank of America in a distress sale, while names like AIG and Washington Mutual started doing rounds as probable victims of a deep financial crisis.
There are also those who are seeking to cash on the already-announced and expected merger and takeover deals as a fallout of the current crisis.
The websites on offer also include BankOfLehman.com and BarclaysBrothers - the first targeted at a less-likely deal of Bank of America buying Lehman, while the second stands a better chance to get a good price as British banking major Barclays has agreed to acquire some assets of Lehman Brothers.
In a ongoing auction at eBay, a package of five domains - AMerrillBank.Com, AMerrillBank.Org, AMerrillBank.Net, AMerrillBank.Mobi and AMerrillBank.Info - is on offer with a starting bid of $150 . No bids have come so far.
Among more successful auctions, BankOfMerrill.com has received three bids since September 14, with the latest being for $2,050.
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First Published: Wed, Sep 17 2008. 04 21 PM IST