Sunshine.co.uk bought out for £12m

[domainseller200]

http://www.businesscloud.co.uk/news/on-the-beach-snaps-up-sunshinecouk-in-12m-deal

Well done to all involved

 

[ian]

Brothers missus works for On The Beach in Cheadle, they are certainly growing.

 

[Blossom]

Oh that's interesting, had no idea On The Beach was based in my hometown!

 

[ian]

Oh that's interesting, had no idea On The Beach was based in my hometown!

@Blossom And that I'm also originally from there too (from 4 years old anyway).

 

[BG]

There will most definitely be some smiles surrounding this deal for sure! It's just a shame the original founder 'Mr B' who put his life and soul in to the company won't be seeing any part of the action

 

[domainseller200]

There will most definitely be some smiles surrounding this deal for sure! It's just a shame the original founder 'Mr B' who put his life and soul in to the company won't be seeing any part of the action

Exactly why I kept my original post short and sweet. Gutted isn't the word.

 

[BG]

Gutted isn't the word.

I bet 'gutted' isn't the word too... I feel for him big time as i remember speaking with him just over 5yrs ago on the phone after he left (no doubt like you did too) - Seeing this sale will no doubt bring all those ill feelings back as its hard to ignore a £12-million pricetag for something which he created, yet didn't get rewarded for!

Good people should always be rewarded and acknowledged for their hard work, hopefully Mr B's payday will come 10-fold with one of his other ventures...

 

[Murray]

It's just a shame the original founder 'Mr B' who put his life and soul in to the company won't be seeing any part of the action

What's the back story to this? for noobs like me

 

[BG]

What's the back story to this? for noobs like me

Hi Murray.

I hope all is well and the domain industry is still treating you kindly, it's been a while...

Without going in to too much detail - Let's just say a good guy got squeezed out of his own company for trusting in those who he thought were his friends.

 

[martin-s]

Moral presumably being never own less than 51% of anything you create.

 

[Edwin]

Moral presumably being never own less than 51% of anything you create.

Or have a rock solid anti-dilution clause so that nobody can game the share allocations to squeeze you out...

 

[Murray]

Hi Murray.

I hope all is well and the domain industry is still treating you kindly, it's been a while...

Without going in to too much detail - Let's just say a good guy got squeezed out of his own company for trusting in those who he thought were his friends.

Ahh I see so not an amicable departure

Oh yes things are fine thanks, purely domains things are a bit slow, had my worst year since I started last year monetarily sales wise

But I wasn't proactive at all and I'm still sitting on some nice domains so you never know what the future has in store

 

[grantw]

I sold them sunshine.co.uk in 2006, the deal contributed to me getting sacked from my job at the time and I haven't done a proper day's work since

 

[cav]

I sold them sunshine.co.uk in 2006, the deal contributed to me getting sacked from my job at the time and I haven't done a proper day's work since

This domain name is sounding like a poisoned chalice...

 

[mat]

I sold them sunshine.co.uk in 2006, the deal contributed to me getting sacked from my job at the time and I haven't done a proper day's work since

That awkward moment when you walk in to work dressed in a new fur coat, gucci man bag and casualy take a sip from a bottle of Cristal and nibble at some Beluga at your desk.

 

[grantw]

I wish lol. It gave me the nudge and a bit of cash to set up on my own though so definitely a blessing in disguise.

 

[JMI]

What about the rest of the tasty geos they owned?

 

[BG]

What about the rest of the tasty geos they owned?

It appears that they all belong to the company 'Sunshine.co.uk Ltd', for example > tenerife.co.uk, menorca.co.uk and so on... So you would assume they are ALL part of the sale.

 

[Edwin]

Presumably they sold everything in one fell swoop so as to benefit from Entrepreneurs Relief. Very sensible if so - it looks like a really great benefit for those entrepreneurs building valuable assets.

https://www.gov.uk/entrepreneurs-relief/eligibility