How does a paper company make a million dollars from the Wii? Own the domain wii.com.
The domain name wii.com was originally registered in 1994 by Willamette Industries Inc. of Portland, Oregon, known by its stock ticker “wii”. Willamette Industries Inc. was later acquired by Weyerhaeuser in 2002. When Weyerhaeuser acquired Willamette Industries Inc., the domain name wii.com was acquired as intellectual property. Nintendo even as late as May acted as if they didn’t even want the name and ccording to a May 26 report by vnunet.com, a global information and media company, a Nintendo spokeswoman was quoted as saying “To my understanding we are not planning on using that Web site.” While Nintendo pretended like they didn’t even want the name, Weyerhaeuser sat on the name knowing the longer they held it the more valuable it would become if the system was a success. During the “we don’t care” time period they acquired every name they could think of using the wii. Here are the official statements from the Weyerhaeuser spokesman
“In late May or early June,” Mendizabal said, Nintendo sent an informal e-mail to Weyerhaeuser’s public affairs department, asking about the availability of wii.com. “They made an offer. We made a counteroffer, then it went back and forth,” Mendizabal said.
But the negotiations stayed within the public affairs and law departments at Weyerhaeuser. The deal, Mendizabal said, never involved an outside expert appraisal of the domain name’s value.
Nor will the dollar value show up in any documents Weyerhaeuser, as a publicly traded company, must file with the Securities and Exchange Commission.
The SEC requires public companies to report any actions or “material events” that could affect the company’s financial statement or stock value. It broadly defines a material event as any circumstance that a reasonable person would consider important.
The exchange of wii.com “didn’t come close to that,” Mendizabal
This statement doesn’t mean that this name didn’t exchange for a million or more because Weyerhaeuser is a billion dollar company and a million dollars is petty cash for them and certainly would not be considered “material events” for them. Nintendo went on to register 70 plus more names with wii in them including my favorite wiiwii.com.