Clover Holdings' Acquisition Has Closed

Nov 17, 2010 4:15 PM PST
CAMBRIDGE, Mass. — Domain broker Sedo on Wednesday officially closed on the sale of the domain name after it searched three months to find a buyer.

"As of 5:26 p.m. EDT today, Nov. 17, the sale of has been finalized through Sedo for $13 million," Sedo's Tiffany Cuddihy told XBIZ.

Cuddihy's announcement was just as dramatic as the life of the three-letter domain, which has been sold twice in the past four years — once to Escom for $14 million and the latest to Clover Holdings Ltd. for $13 million. The site even was hijacked from its original owner, Gary Kremen, at one point.

Clover Holdings, which had the winning bid last month, was chosen from among 12 bidders after making the "highest and best offer" and the U.S. Bankruptcy Court in Woodland Hills, Calif., has approved the acquisition.

Not much is known about Clover Holdings, and Cuddihy declined to elaborate on its operators.

The sale was brokered by one of Sedo’s senior domain brokers, Jeff Gabriel, who conducted a three-month search for a buyer on behalf of Escom, which filed bankruptcy earlier this year.

“It is very rare when a domain name of this quality and value becomes available, and we are delighted that Sedo was involved in this historic event,” Gabriel said in a release.

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