Yahoo (NSDQ: YHOO) has become quite active in the domain name market lately. It sold contests.com for a cool $380,000 in June — and it has now picked up omg.com for $80,000, according to Domain Name Wire. Yahoo will almost certainly use the domain to redirect to its omg celebrity site. Until now, people who navigated to omg.com hoping to find celebrity news found the website of a not-for-profit computer industry consortium instead.
Yahoo was roundly criticized for selling contests.com — with DirectNavigation.com’s Larry Fischer saying that while the domain may have been a ‘non core’ asset — “it’s an amazing category name” and TechCrunch noting that contests.com should have gone for at least a million.
The omg.com purchase is unlikely to be similarly vilified. AOL’s celebrity site is accessible at TMZ.com and Microsoft (NSDQ: MSFT) has managed to build up quite an audience for its six-month-old Wonderwall celebrity site, which it promotes at Wonderwall.com. Just last week, Microsoft press representatives circulated a note saying that Wonderwall was already generating more than half of omg’s traffic.