Quick Loans
    Really Interesting Finance News
    Really Interesting Finance News
    Tuesday, 22 October 2019 18:06

    Social.co.uk Sold for £15,000

    We are happy to say that we have just sold the domain name Social.co.uk. A sale that could be the first of many as we move away from .co.uk brands.

    We don't usually sell domain name brands, but on this occasion, we thought it was right to share with people that we have sold one of the higher-end domain names.

    The enquiry came through the domain brokerage service Sedo. After a week or two of going back and forth over numbers, we were happy to accept the sum of £15,000.

    The rationale behind our decision was that the buyer only wanted the .co.uk version of the name. If they had insisted on purchasing the .uk version of the name along with the .co.uk, we wouldn't have sold it at any price.

    We bought the name to show people their data scores. Data scores are going to be almost as crucial as Credit Scores in the next ten years. We trialled a live version of social.uk a few months ago to show applicants their social scores when they applied for a loan. People weren't interested, even though it was free.

    We decided to shelve further development of Social.co.uk and .uk and come back to it in a few years. The idea of doing this is that in the future, the public will be more interested in this aspect of their profile. Until then, we'll be fighting a losing battle in trying to push the idea.

    Now because we feel that .uk is going to take over in the next five years, and as we don't have any plans to develop this idea for five years. We are happy to sell the .co.uk and just run with the .uk version in the future.

    Quick Loans is set to end it's involvement in finance within the next 12 months. We are accepting offers for our loan portfolio of names. For those interested, please contact us.

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