ElectroShops LLC said yesterday it will close its new Web site, buythedomains.com, when the Internet retail and services firm sells its more than 170 registered domain names in stock.
The site offers names designed to interest consumer electronics and entertainment firms looking to go online. ElectroShops, Minneapolis, expects to make more than $7 million from domain names such as MotorhomeShop.com, TelephoneShop.com and CinemaShop.com.
“We know this isn’t a traditional business model, but we’d like to be out of business as soon as possible,” said President/CEO Lance Fletcher. “There are only so many top domain names left, and when they’re gone, we’re out of inventory. The sooner we close our doors at BuyTheDomains, the faster we have achieved our objectives.”