Housing.co.in Spends 1 Mln on a .COM Domain Name & Easy To Remember National Number

Housing.co.in is a promising startup, we had only good things about them when we wrote about them in June this year, when they received USD 2.5 million funding from Nexus Venture Partners. It was impressive that an 11 month old startup from India raised that kind of money. Today founders of housing.co.in made a really bold move – They have acquired housing.com domain name for half a million dollars and another half a million for a fancy easy-to-remember national number – 03-333-333-333. This kind of spending by an Indian startup is unknown, path-breaking even. In my personal opinion, it is a great move by them. While, some may question the thinking behind spending nearly 40 percent of their 2.5 million funding, I think they have smartly acquired assets that will only rise in value. In a unlikely scenario, if housing.co.in fails, they can still cash on this domain name by selling it, which may have increased in value. Also, the easy to remember number can also be transferred to someone else for nearly the same amount that they have bought it at. Even then, kudos to housing.com’s young founders for taking this step. The .com domain name acquisition was done because they are going global and .co.in domain just would not have cut it with their global expansion plans. While they could have opted for another .com domain name, it would reduced much of their brand value generated over last one year! Surely housing.com startup is one to watch out for! [Via NBW]