Internet REIT

About Internet REIT

Internet REIT (iREIT) operates as a media company focused on acquiring, managing, and monetizing high-value internet domain names. Founded in 2004 by Bob Martin and Marc Ostrofsky, the Houston-based firm established itself in the direct navigation market, a segment that capitalizes on traffic from users who type domain names directly into their web browser. The company's business model involves generating revenue through advertising on its portfolio of web properties.

The company's portfolio contains hundreds of thousands of domain names, including premium generic names like CreditReports.com, FarmLoans.com, and Tablets.com. iREIT also held numerous domains that were common misspellings of major brands, which led to a cybersquatting lawsuit by Verizon Wireless in 2007 that was later amicably resolved. In addition to domain monetization, iREIT provides a suite of services to clients, such as reseller management, data analysis, marketing fulfillment, and salesforce.com administration.

Internet REIT secured its initial external financing in 2005 from Jacobson Family Investments Inc. A significant milestone occurred in 2006 when it raised $20 million from a consortium of prominent investors, including Maveron LLC, a venture capital firm chaired by Howard Schultz; Perot Investments Inc., owned by Ross Perot; and Breco Holdings Inc. To bolster its relationship with the domainer community, iREIT formed a strategic partnership in 2007 with DNforum.com, a large professional forum for internet domain investors.