$600,000 for a domain name… that’s a nice come-up for a unknown company.
Check out the report below.
Before there was Young Money there was something called youngmoney.com — a business specializing in helping young entrepreneurs manage and make money for more than a decade.
The company that owned originally owned the site youngmoney.com sold it to Wayne’s Young Money label in 2011 for $600,000. But there were strings attached … if Wayne’s Young Money didn’t make the payments on time, YM would forfeit the name youngmoney.com and it would go back to the seller.
Wayne’s company hasn’t paid the $250K balance it owes and is blatantly blowing off its obligation … according to the lawsuit. So the seller is suing to get its domain name back.