British Businessman Turns Down 7 Million Dollars for Internet Name

Published June 2nd, 2000 - 02:00 GMT

 

A British businessman said on Friday he had turned down an offer of seven million dollars (7.5 million euros) for an Internet name he registered three years ago for just 100 dollars. 

Peter Littke, from Surrey in southern England, said that he could make more money by pressing on with plans to launch an Internet business in September than by selling the name "e-buy.com" to a US company of the same name. 

"It was a very, very tempting offer I must say, which was negotiated earlier this year, but I have been working now for three and a half years on a different concept whereby e-buy.com only forms part of it," he told the BBC. 

"We will launch it in September and I just had to say no because we are too far down the road." 

A California-based company last year offered Littke three million dollars for the web name and has now raised the offer to seven million dollars. 

"Companies realise that it becomes more and more important to have the right brand name on the Internet," said Littke -- LONDON (AFP) 

 

© 2000 Al Bawaba (www.albawaba.com)

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