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February 19, 2016 (Fri)
Rubbish or Treasure
The story of Jumei (聚美) reminds us that some domain names considered rubbish today may become very valuable in the future.
More than 10 years ago, Chinese investor De WU was the owner of Jumei.com. He tried to sell the domain names many times but there was no offer. He lost the interest and the domain name dropped.
One of his acquaintances registered the name again and sold it to entrepreneur Ou CHEN a few years later. CHEN used Jumei.com to launch his group buying service, which grew rapidly and was later listed on New York Stock Exchange. As a result, CHEN became an Internet billionaire.
How much is Jumei.com worth and how does Mr. Wu feel now? I have no idea, but I know a business empire was launched from this humble domain name.