The premium domain name Grab.com has been acquired by Grabtaxi Holdings PTE LTD of Singapore according to domain name whois records this morning.
GrabTaxi announced in January 2016 that they would be rebranding to simply Grab, as they now offer much more than just taxi services. At the time of the rebranding announcement, the company was using the domain name Grab.co
According to the linked TechCrunch article above, Grab is valued at over $1 Billion based on funding.
The Grab.com domain name was on a developed website for many years prior for Grab Games and remained that way until very early March 2016 (about the 5th) when the domain suddenly started redirecting to GrabGames.com.
One would have to expect that a substantial offer was made to acquire the domain name from a company that was using the domain name for its main website, likely email and more. How high that number was, I’m not sure (likely 7 figures), but the more zero’s the more likely the past owners thought it was worth to switch domains.
The new Grab.com is a booking app, similar to the popular service Uber and didn’t resolve yet at the time of this article but I’m sure will very soon.
Congrats to both parties as it’s not an easy task to acquire a really great domain name like Grab.com from a company that was already using it and I’m sure was very happy to own it!
Wow, just goes to show with Venture funding anything is possible.