Daily News: May 15, 2014

Hilco Streambank Completes Auction of Dots Assets

Hilco Streambank said it completed the Chapter 11 auction of the Dots intellectual property assets. The Dots.com domain name was sold separately for $335,000 to an individual entrepreneur. The remainder of the package was sold to a Florida entity called New Dots LLC for $326,000.

Both bids exceeded an initial $250,000 stalking-horse bid from Rainbow Shops for the entire portfolio. The auction was conducted on Friday May 9, 2014 and concluded on the same day. The sale is currently pending bankruptcy court approval.

“The auction was very active with multiple rounds of bidding.” said Jack Hazan, EVP of Hilco Streambank. “It was interesting to see the bidding on the dots.com domain name top the bids on all of the other assets. You need to think out of the box when selling IP, as the best buyers are not always the likely suspects.” Hazan said.

Previously on abfjournal: Bidder Announced for Dots Intellectual Property Assets, May 7, 2014