The man behind Diapers.com and Jet.com acquires Mojo.com for his latest startup.
Entrepreneur Marc Lore has an incredibly successful backlog of businesses he’s started that are intrinsically linked to some of the best fields.
As CEO of Quidsi, Lore led the development of Diapers.com, Soap.com and Wag.com until Amazon bought the company for $545 million in 2010.
Following the 9-figure Quidsi sale, Lore launched another e-commerce venture around Jet.com, a domain acquired from domain investor Garry Chernoff’s NetIncome Ventures.
A year after launching the Jet.com business, retail giant Walmart bought the company for $3.3 billion.
After a stint at Walmart, Lore is back with another company and another premium domain.
Lore, along with baseball great Alex Rodriguez, former Walmart SVP Bart Stern, and Quidsi co-founder Vinit Bharara, launched Mojo using Mojo.com.
Mojo is best described as a “stock market” for professional athletes, allowing fans to buy and sell a player’s “stocks” based on their performance on the field.
While we won’t see Mojo’s platform until fall 2022 at the earliest, we know the company has been busy behind the scenes. Lore and his co-founders have hired 40 employees and raised $75 million in Series A funding, revealed with company plans in early March.
As for the Mojo.com domain name, Lore and his team got it in January 2021, according to Jamie Zochwho also noted that the asking price was “at least $1 million”.
Prior to the acquisition, Mojo.com was redirected to Elevate.com and had been for several years, which leads me to believe that Elevate Credict, Inc. owned Mojo.com.
Some research led me to a December 2021 SEC filing by Elevate Credit. In it, Elevate notes on page 108 that “[…] in January 2021, the Company sold a domain name that was owned for a gain of $949,000, included in non-operating loss in the consolidated statements of earnings.
Since January 2021 appears to be when Mojo.com changed hands, it’s likely that this filing refers to the sale of Mojo.com.
The $949,000 figure tells us that Elevate earned $949,000 from the sale after deducting the original purchase price of Elevate for Mojo.com.
Based on Whois history and data from Archive.org, it appears that Elevate may have acquired Mojo.com in 2013, and in 2013 the company spent $449,727 on domain name acquisitions. . DNJournal reports that Mojo.com sold for $300,000 that year. If Elevate was indeed the buyer of Mojo.com in 2013, that would suggest Mojo.com’s sale price in 2021 was $1,249,000. This is further supported by evidence found by George Kirikos that Elevate recorded proceeds of $1,250,000 from the sale of intangible assets in the first quarter of 2021.
As Marc Lore’s startup, it’s no surprise that the company launched using an ultra-premium, exact-match .com domain. Mojo.com offers the company the ideal launching pad for an ambitious project.
This story has been updated to include more information on the sale price of the domain, which pegs it at around $1.25 million.