Story by
Patrick de Laive
CPO and co-founder, TNWPatrick de Laive is an experienced entrepreneur and daddy of Bo and Denne. He is co-founder of TNW and sporadicly invests in startups. He is Patrick de Laive is an experienced entrepreneur and daddy of Bo and Denne. He is co-founder of TNW and sporadicly invests in startups. He is a frequently asked speaker at (tech) events across the globe. Check his LinkedIn profile and @Patrick on Twitter for more information.
February 5th, 2009. The domain name Toys.com was sold for 1.25 million dollar to Faculty lounge in an auction after The Parent Company filed for bankruptcy.
22 days later this same domain name was sold again, but this time for the astonishing amount of 5.1 million dollars. Toys’RUs is the new owner. They outbidded National A-1 in a one to one race, which is fully described by Larry.
Not a bad investment for the Faculty lounge. 3.85 million dollars profit in just 22 days, that is a mere $175k a day or 121 dollars per second.