We have learned through a reliable source that the Gem Shopping Network (GSN), seen on cable systems nationwide, has acquired the premier domain name Gems.com for $1.5 million. When contacted about the sale, Mark Thomas at VIP Brokerage, who represented the seller in the transaction, confirmed the information we had was accurate. That ranks as the 2nd highest publicly reported domain sale of the year to date (we will be adding it to our charts when our next bi-weekly domain sales report comes out Wednesday evening, April 27). 
GSN, founded in 1997, is a private company but a source who is familiar with the company's operations estimated the TV retailer's annual sales are in nine figures. A December 2020 article in the Atlanta Journal-Constitution about the Duluth, Georgia based company, estimated

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GSN had 130 employees at the time. We reached out to contacts at GSN to see if they wished to comment on their acquisition of Gems.com and will update this article should they decide to do so.

One thing is for sure, Gems.com will gives GSN a world class upgrade from their current address at GemShopping.com. It's the kind of category-defining domain that brings a company invaluable credibility both online and off. In 2018, a year after Ring bought the Ring.com domain name for $1 million, CEO Jamie Siminoff estimated the domain ended up being worth $30-$50 million in business for the company.

(Posted April 25, 2022)  

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