Changes

{{CompanyInfo|

{{CompanyInfo|

| logo            = SnapNamesLogo.gif

| logo            = Snapnames.jpg

| type            = Private

| type            = Private

| industry        =  

| industry        =  

| founded        = 2000

| founded        = 2000

| founders        = [[Raymond King]] and Ron Wiener

| founders        = [[Raymond King]] and [[Ron Wiener]]

| headquarters    = 1600 SW 4th Ave, Portland, OR 97201

| headquarters    = 1600 SW 4th Ave, Portland, OR 97201

| country        = USA

| country        = USA

| keypeople      = [[Mason Cole]]

| businesses      =  

| products        = [[DropCatching]], [[Domain Name Auctions|Auction]]

| products        =  

| employees      = Now part of [[Oversee.net]]

| employees      =  

| sales          =  

| revenue        =  

| website        = http://www.snapnames.com

| website        = [http://www.Snapnames.com SnapNames.com]

}}

}}

'''SnapNames''' is an online marketplace for resale of domain names. The company offers a platform for buyers and sellers of domain names to transact business in a secure, transparent environment. The company is located at Portland, Oregon, USA. SnapNames is a 100% subsidiary of [[Oversee.net]], a Los Angeles company that also owns other well-known brands such as [[DomainSponsor.com]], [[Moniker.com]] and LowFares.com<ref>http://oversee.net/</ref>.

'''SnapNames''' is an online marketplace for resale of domain names. The company offers a platform for buyers and sellers of domain names to transact business in a secure, transparent environment. The company is located at Portland, Oregon, USA.  

 

SnapNames is owned by [[Web.com]], who acquired the company from [[KeyDrive SA]] in February 2014.<ref>[http://domainincite.com/15954-snapnames-acquired-by-web-com SnapNames Acquired by Web.com, DomainIncite] Retrieved 4 March 2014</ref> It transferred ownership to KeyDrive SA in January 2012 after previously being a 100% subsidiary of [[Oversee.net]]. The deal between KeyDrive and Oversee.net also involved the acquisition of SnapNames' partner, [[Moniker]], and made [[Key-Systems]]' holding company, KeyDrive SA, the world's 6th largest [[ICANN]]-accredited [[registrar]].<ref>[http://domainnamewire.com/2012/02/01/keydrive-acquires-moniker-and-snapnames/ KeyDrive Acquires Moniker and SnapNames, DomainNameWire.com]</ref>

==History==

==History==

SnapNames was co-founded in 2000 by [[Raymond King]] and Ron Wiener <ref>http://www.dnjournal.com/columns/coverstory3.htm</ref>. The company is a genesis of an idea that Raymond King, while tracking a domain name which he wanted for himself, and whose registration expiry date was nearing. King wrote a programming script that enabled him to know the moment the domain name expired, so that he could quickly move in and re-register it in his name. His success led him to the founding of SnapNames, with the objective of providing its services to corporate clients who wanted to guard their domain names from accidental deletion from the domain registry. The company later expanded into offering its services to individual buyers who wanted to buy domain names which were being deleted from the registry.  

SnapNames was co-founded in 2000 by [[Raymond King]] and [[Ron Wiener]].<ref>http://www.dnjournal.com/columns/coverstory3.htm</ref> The company is a genesis of an idea that Raymond King, while tracking a domain name which he wanted for himself, and whose registration expiry date was nearing. King wrote a programming script that enabled him to know the moment the domain name expired, so that he could quickly move in and re-register it in his name. His success led him to the founding of SnapNames, with the objective of providing its services to corporate clients who wanted to guard their domain names from accidental deletion from the domain registry. The company later expanded into offering its services to individual buyers who wanted to buy domain names which were being deleted from the registry.  

SnapNames was acquired by [[Oversee.net]] in the year 2007<ref>http://oversee.net/news/63</ref>. The terms of the deal were not disclosed. The company's then CEO, Mr. [[Sudhir Bhagwan]], continued to operate the company as a standalone business unit until 2008.

SnapNames was acquired by [[Oversee.net]] in the 2008.<ref>http://oversee.net/news/63</ref> The terms of the deal were not immediately disclosed. The company's then CEO, Mr. [[Sudhir Bhagwan]], continued to operate the company as a standalone business unit until 2008. Its operations were later tied to [[Moniker]].<ref>[http://domainnamewire.com/2012/02/01/keydrive-acquires-moniker-and-snapnames/ KeyDrive Acquires Moniker and SnapNames, DomainNameWire.com]</ref>

==Business Model==

==Business Model==

== Accomplishments ==

== Accomplishments ==

'''On July 16, 2009''' SnapNames.com, in partnership with [[Moniker.com]], began a monthly showcase auction to target corporate buyers. [https://www.snapnames.com/newsroom.jsp]

'''On July 16, 2009''' SnapNames.com, in partnership with [[Moniker|Moniker.com]], began a monthly showcase auction to target corporate buyers. <ref>https://www.snapnames.com/newsroom.jsp</ref>

== The "halvarez" Scandal==

== The "halvarez" Scandal==

On 11 April 2009, SnapNames announced that the company has discovered that one of its own employees participated in the auctions conducted by the company under the handle of "halvarez" <ref>http://www.domainnamenews.com/news/snapnames-discovers-employee-bidding-domain-names/6479</ref>. The employee was found to be Mr. Nelson Brady, VP (Engineering). According to the company release, Mr. Brady would bid "irrationally high" in the auctions under the "halvarez" handle, leading to a full-blown bidding war amongst bidders for what was otherwise a straightforward backorder transaction. Bids placed by "halvarez" would invariably turn out to be the second-highest after the auction was closed<ref>http://www.dnforum.com/f557/important-message-snapnames-5-thread-197282.html</ref>. According to the company release, the activity had been going on since March 2005, before being finally discovered in 2009<ref>http://www.snapnames.com/faq.html</ref>. About 5% of all auctions conducted by SnapNames were affected because of this.  

On 11 April 2009, SnapNames announced that the company has discovered that one of its own employees participated in the auctions conducted by the company under the handle of "halvarez" <ref>http://www.domainnamenews.com/news/snapnames-discovers-employee-bidding-domain-names/6479</ref>. The employee was found to be Mr. [[Nelson Brady]], VP (Engineering). According to the company release, Mr. Brady would bid "irrationally high" in the auctions under the "halvarez" handle, leading to a full-blown bidding war amongst bidders for what was otherwise a straightforward backorder transaction. Bids placed by "halvarez" would invariably turn out to be the second-highest after the auction was closed<ref>http://www.dnforum.com/f557/important-message-snapnames-5-thread-197282.html</ref>. According to the company release, the activity had been going on since March 2005, before being finally discovered in 2009<ref>http://www.snapnames.com/faq.html</ref>. About 5% of all auctions conducted by SnapNames were affected because of this.  

In order to contain the damage, SnapNames terminated the employment of Mr. Nelson Brady in 2009. The company also offered a rebate - with 5.22% interest (the highest applicable federal rate during the affected time period), to affected customers for the difference between the prices they actually paid and the prices they would have paid, had the employee not bid in the auctions<ref>http://www.namepros.com/domain-name-discussion/621078-halvarez-at-snapnames-auctions-uncovered.html</ref>. An independent forensics firm, Rust Consulting, was hired to estimate the refund amount.

In order to contain the damage, SnapNames terminated the employment of Mr. Nelson Brady in 2009. The company also offered a rebate - with 5.22% interest (the highest applicable federal rate during the affected time period), to affected customers for the difference between the prices they actually paid and the prices they would have paid, had the employee not bid in the auctions<ref>http://www.namepros.com/domain-name-discussion/621078-halvarez-at-snapnames-auctions-uncovered.html</ref>. An independent forensics firm, Rust Consulting, was hired to estimate the refund amount.

== Contact Information ==

== Contact Information ==

[[Category: Companies]]

[[Category: Companies]]

[[Category: Registrars]]

[[Category: Registrars]]

[[Category: Past Sponsor]]

[[Category: Past Supporters]]