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Summary:

Oversee.net, a heavily-funded domain-focused firm, has laid off 10 percent of its staff, the company confirmed to socalTech. The LA-based co…

imageOversee.net, a heavily-funded domain-focused firm, has laid off 10 percent of its staff, the company confirmed to socalTech. The LA-based company raised a huge, $150 million round back in January led by PE firm Oak Hill Capital Partners. With the raise, the company indicated it would likely make various domain-related acquisitions, though it now says that the economy is hampering its business. We’ve sent an email to the company for more information, including the exact numbers, and will update as warranted.

Oversee’s outsize raise is consistent with the ambitious fundraising of some others in the domain space. Back in November, domainer Namemedia filed for a $172 million IPO. It last filed an update to its S-1 in April.

DomainNameNews: “The news of Oversee executives staff being canned comes in the wake of other recent disappointing news this month from domain companies. Dark Blue Sea and Tucows both reported less than stellar earnings. DBS pay-per-click revenues were down nearly 50% and Tucows earnings were lower but President Elliot Noss believes that parking revenue may have bottomed out as the company is seeing increases in their domain portfolio pay-per-click earnings.”

By Joseph Weisenthal

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  1. this is a BS company so they deserve to go down!

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  2. domain squatting is a pathetic business to be in. its bottom feeding. very surprising how they were able to raise all that money on a business based on people mistyping a destination.

    "Our business model relies on people visiting websites that they did not intend to go to. We feel that we can make these sites look legit enough that they will click on a sponsored link"

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  3. Please note the correction in the wording on our article. http://www.domainnamenews.com/news/overseenet-cuts-10-of-employees/1987

    According to other sources there were no executives cut. It is unclear at this time whether any executives were included in cuts, so we have rephrased the quote and would appreciate the change noted.

    Oversee provides many services to the domain business including monetizing domains, domain registrar services, domain auctions and domain name back-ordering. Oversee also operates sites like Low.com and manages an advertising network. Apparently the people commenting are unaware of all that the company entails.

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  4. Low.com = a site that hasnt had its content updated in over 6 months. "We'll convince people to fill out our forms for lead gen, then sell them to various insurance/mortgage brokers as many times as possible to make a buck"

    No original content = domain squatter

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  5. You must be a liberal, he who posted at 5:18 am. I am too, but I try not to whine. You liberally blame Low.com for 'convincing people to fill out forms.' Sounds like a serious moral failing at Low.com. Do they send employees to people's house with guns to their heads? Sheesh!

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