Why Spend $900,000 on Great.com? |
Becoming Great

Which is worth more to you?
A. A domain name
B. The lives of 300 people

This may seem like an odd comparison, but when contemplating buying a domain name worth $900,000, it’s a moral dilemma you have to address. When Erik Bergman decided to spend almost $1 million on Great.com for his charitable venture, he knew that he’d need to defend his reasoning for investing so much into the domain name.

Many people immediately take the stance; “That money could have been put to better use — such as saving lives.”

Today we explore the responsibility that comes with making such a substantial investment. We dive into why Erik thinks his investment will lead to a more significant impact than the $900,000 would have if he merely donated that from the beginning.

Moreover, how do you even purchase a domain like Great.com in the first place?

How did Erik arrive at the $900,000 evaluation? Investing in something so significant must have taken several meetings, self-reflecting, and contract negotiations, right?

Surprisingly — no.

Great.com was purchased via auction from an unstable internet connection with a broken webcam on software that looked like a slot machine.

The second part of this podcast is all about domain names. Erik walks Emil through the basics of domain names — covering questions like:

– How important is an organization’s domain name?
– Should you purchase an expensive domain?
– Should the domain describe the business?

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