Gary Kremen registered alot of great stocks in 1994. He was way ahead of the domain registering game. He registered sex.com, match.com, and many more. If you haven’t heard the story, Stephan Cohen a con man simply called up Network Solutions and had the name transfered over to his name. Needless to say a court battle ensued. Kremen finally got the name back and sold it. There were plenty of hoaxes that had him selling for $85 million and I heard $35 million one time. This purchase was a deal for the buyers, an anonymous group of investors. The site is capable of making tens of millions of dollars a year. It made millions with very little content. A fine buy for one of the most lucrative domain names in the world. I really do find it hard to believe that a big name like Playboy or Hustler or even one of the big porn companies couldn’t come up with more than $12 million. The new buyers say they are going to develop the name but I think someone is going to see the low price and it will change hands once again. Not a bad investment $50 for $12 million over 12 years. Almost as good as Celgene