Investment is a tricky affair. You hit the right spot and you are all happy, while if you press the wrong button it leads you straight to your therapist. But still, the crazy investment stories keep everyone hooked on this game. Today we are going to learn about a similar story.
Domm Holland is an entrepreneur based in Australia. In 2010, he invested a very meagre amount on a domain name. He spent $20 on a domain name Qant.as. If you are Australian you’d get why this was a brilliant acquisition.
Qantas Airlines is the most popular Airline in Australia. The airline operates on the domain name Qantas.com. However, the domain name acquired by Domm was going to create serious trouble for the Airline.
Domm redirected the domain name to Qantas’ rival company, Virgin Blue. He however eventually sold the domain name to an anonymous buyer. He sold the domain name at a staggering $1.3 million.
Yes. A man spent $20 on a domain name and gained $1.3 million. That’s a return of 65,000 times! Match that.
However, the ethics of the investment does look shady. The domain name was clearly registered in ‘Bad Faith’. But, Qantas didn’t take any legal action against Domm. The domain name Qant.as is currently registered with Qantas. You can connect the dots.