12:15 PM
Connect Directly

Entrepreneur Sells

While the price for the adult entertainment site wasn't disclosed, the Reuters report said "a source familiar with the deal" put the price at about $12 million.

Sex sells, and that goes double for, one of the most coveted domain names on the Web. has been sold by longtime Internet entrepreneur Gary Kremen, according to an announcement this week.

While the price for the adult entertainment site wasn't disclosed, the Reuters News Agency said "a source familiar with the deal" put the price at about $12 million.

Few details of the transaction were released by the purchaser, Escom LLC, said to be a Boston-based firm. Searches of "Escom" produced results for escort services. A statement on the Web site said the "hottest adult entertainment" site offered a range of erotica and services. The site also said it received millions of new visitors every month.

In a statement, Kremen, CEO of Grant Media, said: "Escom will maximize the user experience in a fundamentally different way than we had been doing at Grant Media. I am excited to see how the revolutionary new business plan evolves."

Although Kremen sold the site, he said he will act at an advisor to Escom, and continue to manage Grant Media's existing business.

Kremen, a founder of on-line dating service, has been an Internet business whirlwind, starting different endeavors ranging from satellite media transmission and automatic meter reading ventures to assisting in the development of UNIX security products.

His online biography notes that he has degrees in computer science and electrical engineering from Northwestern University as well as an M.B.A. from the Stanford University Graduate School of Business.

Comment  | 
Print  | 
More Insights
The Business of Going Digital
The Business of Going Digital
Digital business isn't about changing code; it's about changing what legacy sales, distribution, customer service, and product groups do in the new digital age. It's about bringing big data analytics, mobile, social, marketing automation, cloud computing, and the app economy together to launch new products and services. We're seeing new titles in this digital revolution, new responsibilities, new business models, and major shifts in technology spending.
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Tech Digest - July10, 2014
When selecting servers to support analytics, consider data center capacity, storage, and computational intensity.
Flash Poll
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join InformationWeek’s Lorna Garey and Mike Healey, president of Yeoman Technology Group, an engineering and research firm focused on maximizing technology investments, to discuss the right way to go digital.
Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.