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The reason it sold at half it's valuation is because the valuation was bullshit.

It's like some guy claiming his classic car is worth 25,000 dollars. If nobody is offering 25k for it then it's not worth 25k. Period, end of story.

The entire deal was put together in secret within the last 2 months. We don't know what anyone else would have offered because no one else was given the chance.

It would be like you valuing the car at 25k then selling it to your buddy for 15k without even listing the car on ebay first to feel the price.

They didn't appear to shop the offer.

It's like that 'some guy' selling his classic car to a classic car dealer who was walking by, without first testing the price with experts or posting an advertisement.

Except in this case the "some guy" is selling the classic car without actually owning it since it actually belonged to a public museum, and the dealership was just set up last week by the former director of the museum who just happened to retire the week before that.

There seems to be some kind of breach of fiduciary trust here somewhere, heads should roll at ICANN even if all of this was somehow not in violation of any laws.

the valuation was bullshit

Valuation of a cashflow is a very well understood thing. There is literally a button on my calculator that just does it. And a built-in function in Excel.


The deal was closed in two days with no other offers allowed.

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