From $70k domain to $40 million venture round: Passes.com
Richard Lau sold domain name to firm that just raised $40 million.
A creator monetization platform has raised a $40 million series A round using a great domain: passes.com.
Domain name investor Richard Lau told Reglike that he sold the domain to the firm in 2022 for $70,000. Once he found out Lucy Guo was behind the firm he sold the domain to, he asked to convert the price into shares, making him a modest investor in the firm.
Guo previously co-founded Scale AI, which was valued at $7 billion.
Passes helps creators generate revenue from their audiences by offering exclusive content to paying subscribers, messaging fans, livestreaming, hosting one-on-one calls, and accepting tips. It’s similar to Patreon but pitches additional features.
The firm previously raised a $9 million seed round in 2023.
Passes is a great name that makes sense for the firm. As a plural word, the firm was able to acquire it for less than it likely would have paid for a good singular domain.
