Is It a Top?

Domain name sells for $5 million, raising the specter of a virtual real estate bubble
By News Dude,  Newser Staff
Posted Jun 26, 2007 7:01 AM CDT
Is It a Top?
TO GO WITH AFP STORY: US-Internet-stocks   (Getty Images)

(Newser) – WashingtonVC has purchased the domain name (as in "search engine marketing") for $5 million for its portfolio company Web Targeted.  With a large percentage of Web traffic now coming from search engines, optimizing Web sites for visibility to them has become one of the hottest areas in which to invest.

While the $5-million price tag does not top the $7.5 million that Jake Winebaum is said to have paid for in 1999, it may be an indicator that markets are again "irrationally exuberant." Or it may be that real estate in the virtual world is becoming as valuable as it is in the atomic world. (Read more Web 2.0 stories.)

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