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Domains and Startups ( from TechStars TV featuring Fred Wilson)

TechStars TV Episode 3 (around 15 minutes)

What happened: SocratED renames to Veri and gets the domain

Transcript (might be a few mistakes, I went through 3-4 times to try and copy this word for word):

David Tisch: Socratic + Education = crap name

Founder: Seeing how no one was able to pronounced our old name, SocratEd, we thought it might be a good idea to move to a much shorter 4 letter domain that meant something, so we moved to

David Cohen: That's a good name, veri being truth.

Fred Wilson: four letter domains? impossible. you can't get a four letter domain.

David Tisch: where did they get the money for that is the first question I asked?

David Cohen: so here is the crazy thing, Lee has owned that domain for the past 6 years.

Fred Wilson: There you go. They are the team of that week for that alone, that's going from the out house to the penthouse.

I thought this was interesting for a couple reasons.

From a startup perspective, it's interesting to see how impressed investors can be from a domain name. A strong domain truly does send a signal.

From a domainer perspective, it's shocking to realize that it stuns these investors that a startup has such a good domain. They don't think they have the money and it's not sure if they believe a company should be spending that money so early either on a good domain.