A group of investors from Iowa bought the domain of AreaRugs.com for $405,000.
AreaRugs.com currently serves as a domain for consumers to learn more about area rugs, providing expert advice, tips and information on the rug industry.
Randy Ward, new President and CEO of AreaRugs.com Inc., says, “Our goal is to be the number one shopping destination online for area rugs. We feel we have assembled a great team to accomplish that”.
According to an official statement, Ward and his team are confident that the domain will become a big success.
Commenting on the investment, Lee Weber, Head of Marketing of AreaRugs.com. said: “It is very rare to have the opportunity to buy a premium ‘.com’ domain name in a proven online consumer category.
“In economic times like this you have to think outside the box for ways to get the most out of money and our investors feel that we should have no problem getting a decent, if not exceptional, return out of this investment”.
Ward and his team plan to provide information and expertise on area rugs and to build an e-commerce store, which will be launched in several months.