Anyone who thinks Jake Winebaum overpaid for the rights to Business.com when he bought it Tuesday for $7.5 million is a moron. No, check that, a stupid moron.
Winebaum runs eCompanies, an Internet business incubator. His company bought Business.com from Marc Ostrofsky, a Houston businessman who had paid $150,000 for it three years ago. I know that's a great rate of return. But Winebaum got the best of him.
Yet this morning, in the Los Angeles Times, Naseeem Javed, president of ABC Namebank, a company that helps companies select names, says that Winebaum overpaid. "Tomorrow you could have Pro-Business.com or Businesses.com or Biz.com," he is quoted as saying. "Whoever is buying is playing on very thin ice."Wrong! Had I even known this one was for sale, I would have paid $10 million for it. Still would. Winebaum got a great deal because this site has a lot better ring than VerticalNet (VERT), Commerce One (CMRC) or Ariba (ARBA), the three names I am playing in the