Their foundation is Extend.com: Extend raised $260 million at a $1.6 billion valuation
In his first post for Reglike, James Iles writes regarding how Extend.com has helped the extended warranty provider.
In May 2021, TechCrunch revealed that the extended warranty provider, aptly named Extend, raised $260 million in a Series C funding round that valued the firm at over $1.6 billion.
Extend, founded in February 2019 by serial entrepreneur Woody Levin, started life using HelloExtend.com, but by September 2019, the firm took the decision to upgrade to Extend.com.
The Extend.com domain was purchased by Levin from domain investors Andy and James Booth who had themselves purchased the domain some weeks ahead of from technology giant Cisco.
Extend’s purchase of Extend.com took just 48 hours from beginning to end and as stated by Levin, he made the decision to buy the domain without getting approval from his board beforehand.
In an interview I performed for Media Options with Levin in 2020, he told me:
The next day, I talked to a board member who was our lead investor who stated “absolutely, I’m glad you did it. If you’re going to own an enduring brand, you need to own that domain.”
Over 2 years in, and with a $1.6 billion valuation, Extend is certainly creating an enduring brand with Extend.com at the heart.
While Extend’s protection plan products are sold via leading firms and retailers such as Peloton, the first interaction that most clients get with Extend is when a warranty claim is filed via Extend’s website.
Extend.com, then, is the first interaction that many consumers have with the firm.
There’s a famous quote noting that “you never get a second chance to make a first impression,” but by using Extend.com, Extend is projecting a secure, trustworthy, and enduring brand. For a product protection firm, I don’t think there is any better first impression.
As Levin told me in 2020, “owning Extend.com makes us seem, and feel, and act like a standalone multi-billion dollar corporation.”
Although Extend wouldn’t exist without its innovative product offering and its partnerships with leading firms, you could argue that it wouldn’t exist in this form, with this level of success in such a short amount of time, without the Extend.com domain name as its foundation.
For a consumer-facing brand that relies heavily on its website as the touchpoint for both merchants and clients, its domain name is a vital asset. Levin’s foresight to acquire Extend.com early in the firm’s life set the foundations for a bright future that now sees the firm valued at $1.6 billion.
