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1/24/2006
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Entrepreneur Sells Sex.com

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 sex.com, one of the most coveted domain names on the Web.

Sex.com 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 sex.com 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 Match.com, 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.

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