The reason CNN paid $750,000 for a domain name
Just a few weeks back we wrote about the sale of the domain name ireport.com to CNN which netted an impressive $750,000US for domainer Rick Schwartz. This week we have the reason why CNN was willing to pay big money for the name – they plan to launch iReport.com shortly as an online destination for user-generated news.
It speaks to the value of the brandable domain name — a domain that will stick in the heads of users and doesn’t necessarily reflect the purpose of the site it anchors. Think Flickr.com, Gizmodo.com and BoingBoing.net as opposed to onlinephotos.com, gadgets.com and quirkystories.net. iReport probably had little value in terms of direct navigation, but as a brand, it’s a clear winner for CNN.
MediaWeek reports that CNN uses only about ten percent of the user-generated iReport content it receives. Those reports include everything from test, to photos and video of breaking news as it happens. iReport.com will provide a home for all that content (and, presumably, ads to go along with it).
There’s no word yet on just when iReport.com will launch and the site currently shows a simple “under construction” notice.

The 31st International Public Meeting of ICANN gets underway in two days. Both Elliot Noss, our President and CEO, and Adam Eisner our Product Manager for Domains are making the long trip to New Dehli this weekend for the meeting.
The Good: