Escrow.com notes Q2 slowdown
Q2 volume declines toward end of quarter with fewer sizable transactions.
Escrow.com released its Q2 2023 domain investment index today, and parent firm Freelancer.com (ASX: FLN) noted earnings yesterday.
The firm noted a 31% drop in domain name payment volume between Q1 and Q2, with USD $89 million in Q2.
It blamed this drop on a reduction in “mega” deals. As Freelancer.com CEO Matt Barrie discussed on the DNW Podcast earlier this year, the firm handled significant transactions like the eight-figure chat.com deal in Q1.
Escrow.com handles more than just domain names (autos, IP addresses, etc.) and noted USD $147 million total volume in Q2.
The firm stated transaction volume was trending well until the end of May when it lost steam.
In its earnings note, the firm published a graphic showing both transaction volume and dollar volume across the quarter (pictured above). It’s interesting to see how this changes, and you can spot larger transactions such as the one right at the end of May or the beginning of June. I believe this chart is in AUS dollars. Note that this is for all types of transactions, not just domain names.
