Why Elon Musk buys Tesla.com domain for $11 Million

In one of the most controversial internet domain disputes in recent years, Elon Musk has persuaded Stuart Grossman to sell him the rights to tesla.com for nearly $11 million.

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Musk took over 10 years to convince Grossman to part with the domain, a key part of Tesla's online presence since the company was founded in 2003.

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While the purchase price is not public knowledge, it is believed to be one of the highest prices ever paid for a domain name.

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The tesla.com domain has been an essential part of Tesla's identity and branding since the company's inception.

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Elon Musk has stated that he views the domain as "an important asset" and that it was worth it.

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Tesla is not the only company to have difficulty acquiring the desired domain name. In 2012, Facebook paid $8.5 million for the rights to fb.com from the American Farm Bureau Federation.

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Likewise, Google has also spent millions of dollars on domains such as YouTube.com ($1.65 million) and Android.com ($12 million).

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While the tesla.com domain dispute may be one of the most high-profile cases, it is certainly not the only instance of companies spending large sums of money on domains.

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A strong online presence is essential for businesses in today's digital age.

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Tesla, a car company from California, was founded in 2003 by Martin Eberhard and Marc Tarpenning without owning the rights to the tesla.com web domain.

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Which was registered as an honorific webpage name (Tesla.com) under Engineer Stuart Grossman's control since 1992 due to his dedication in honor of physicist and engineer Nikola Tesla.

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However, Elon Musk joined the company in 2004, and Tesla's website was hosted under the teslamotors.com domain name, which was maintained for over 10 years.

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Due to difficulty finding tesla.com on search engines, they eventually negotiated with Stuart Grossman and paid him an undisclosed amount for the tesla.com domain name in 2013.

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This was one of the most expensive domain names ever sold, with some estimates putting the price tag at over $10 million.

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While the company has not disclosed the exact amount, it is safe to say that Tesla paid a hefty price for the tesla.com domain name.

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Who would have thought that purchasing a domain name could be so lucrative?

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Tesla managed to buy the tesla.com domain from Stuart Grossman for $11 million in 2016, an incredible example of how profitable it has become today with internet domains.

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