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Here's the The Lowdown
from DN Journal,
updated daily
to
fill you in on the latest buzz going around the domain name industry.
The Lowdown is
compiled by DN Journal Editor & Publisher Ron
Jackson. |
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Castello
Brothers Sign Big Nashville.com Deal With
DevDigital Covering Management, Development,
Monetization and Sale of the Site
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The
Castello
Brothers
(Michael and David) have signed a
management, development, monetization and sale
agreement for one of their premier properties
- Nashville.com
- with Nashville based DevDigital
-
one of the largest software and web development
companies in Nashville. While
terms of the deal are subject to a non
disclosure agreement, I can say that I have seen
the details and there are significant cash
considerations involved as well as ongoing
performance metrics that give both parties an
opportunity to reap very impressive additional
revenue from the agreement going forward. David
Castello told me, “DevDigital’s owners,
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Peter
Marcum and Mitch Ballard, and I are
members of the Nashville cigar club at The
Standard (a Robb Report Top 5 Private
Cigar Club) and we’d been discussing this deal
for a good six months. Nashville.com is
now going to be developed to its fullest
potential and it will have a tremendous
impact on Nashville.” (Editor's
note: If
The Standard Cigar Club sounds familiar to you
it’s probably because its ballroom was the
location where the video
for "Whisky" - a song written
and sung by upcoming Nashville based rock artist
BREE who David both manages and plays
drums for).
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The
Castello Brothers: Michael (left) and
David |
The
Castello Brothers acquired Nashville.com
in 2003. Michael Castello
said, “It is the only major geodomain in
our portfolio that was not acquired in
1995-97 and we spent good money for it.
Regardless, after our successes monetizing
PalmSprings.com, Acapulco.com,
LagunaBeach.com and WestPalmBeach.com,
we knew that Nashville.com was a wise
investment.”
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In
addition to managing sites for numerous
Nashville businesses and developing an
online tour management system used by Rascal
Flatts and Jason Aldean,
DevDigital had their eye set on capturing
as much Nashville directed traffic as
possible. DevDigital’s Peter
Marcum said, "We have a Facebook page
about Nashville that has grown to 115,000
Likes. When I met David Castello he told
me that he and his brother owned the worldwide
brand for Nashville with
Nashville.com. I thought it was a
fairly outrageous claim until I took a
closer look and came to the realization he
was right. After that I knew it was
only a matter of time until we
forged a deal.” |
DevDigital
will also be one of the companies building out
the six brands comprising the newly incorporated
Castello Brothers, Inc in Toronto: Rate.com,
Bullion.com, Whisky.com, Bootleg.com,
Kennel.com and GolfClub.com.
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(Posted November
26, 2012)
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For
all current Lowdown posts - Go
Here
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domainers The
Lowdown, so please email [email protected]
with any interesting information you might have. If possible,
include the source of your information so we can check it out (for
example a URL if you read it in a forum or on a site
elsewhere).
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