Back on June 9, 2018, I cold emailed firstname.lastname@example.org:
Curious… Would you entertain an offer to sell hey.com? I'd like to use it for something I'm working on, and willing to make you a strong offer.
Let me know. Thanks!
And that’s where it all began.
For the 25+ years I’ve been emailing, I’d say close to 95% of those email began with some variation of “Hey [Name]”. So when it came time to think about a name for a new email system we’d be building, HEY was a natural.
Further, the “Hey!” menu in Basecamp 3 holds your notifications for new messages, chats, to-do assignments, automatic check-in prompts, boost summaries, and the like. So we already had some prior art on Hey being a place for communication.
But hey.com – that would be an amazing email address, and, we rightly assumed, hard to get. But what the hell – if you don’t ask you don’t get, so I sent the email, crossed my fingers, and waited.
The same day I emailed, June 9, 2018, he replied. Turns out we’d actually talked before on This Week in Tech, way back when. This was his first email back to me:
Thanks for reaching out, I've always respected your business accomplishments and your writing. You may not remember but we spoke briefly a couple of times when I was at TWiT.
As you might imagine, I've gotten a number of offers and inquiries about HEY.com over the years. Usually I ignore them, but very happy to chat with you about this or any other topic. I'm on cell at ###-###-####.
So we set up a call and had a nice chat. Really nice guy. A few days later, I made an offer.
He said no.
So I countered.
He said no.
We were clearly way off. And the momentum went cold. He decided he wasn’t ready to sell. I thanked him for the opportunity and said let’s stay in touch.
Then on August 19, 2019, well over a year after my initial outreach, he wrote me back.
Not sure if you're still interested in Hey.com, but I'm in the process of vetting what appears to be a serious inquiry to buy it. The numbers being discussed are notably higher than what you mentioned previously. Given your previous offer I'm thinking you probably won't be interested, but I appreciated your approach and also what you've done for the industry, so I thought I'd let you know as a courtesy.
We caught up via Zoom a few days later, discussed again, and I made another offer. This time significantly higher than our original offer. It was a nervous amount of money.
Things were beginning to heat up, but there was no deal yet. I completely understood – he owned this domain for a long time, and he wasn’t a squatter. Dane used hey.com for his business. It was part of his identity. It was a valuable asset. He needed time to think it through.
We traded a number of other emails, and then I upped the offer a little bit more on September 18, 2019.
A few days later we’d verbally agreed to move forward on an all-cash deal with a number of stipulations, conditions, etc. All were perfectly reasonable, so we asked him to prepare a contract.
There were a few small back and forths, but we essentially accepted his contract and terms as is. We wired the money into escrow, we waited for some Google mail transfer stuff to finish up, and on November 20th, 2019 the domain was officially transferred over into our ownership. Funds were released to escrow, and the deal was done.
This was a long 18 month process, and there was uncertainty at every step. We’d never bought a domain like this, he’d never sold a domain like this. There’s a lot of trust required on all sides. And more than money, hey.com was important to him. And who he sold it to was important to him as well.
But it was truly a pleasure to work with him. Dane was fair, thoughtful, patient, and accommodating. And for that we’re grateful. Business deals like this can get messy, but this one was clean and straightforward. Kudos to him and his lawyer for their diligence and clear communication.
All in we traded 60+ emails over the course of the deal. Toss in a few zoom calls as well.
So that’s the story of how we acquired hey.com. One cold email to kick it off, no domain brokers or middlemen, and a lot of patience and understanding on both sides.
Wait how much was it? I know everyone wants to know, but we can’t say. Both sides are bound by a non-disclosure around the final purchase price. You’ll just have to guess.
As for Dane, he relaunched his brand under a new name. You can check him out at VidiUp.tv.
As for us, this April we’ll be launching our brand new email serviced called HEY at hey.com.
Note: This post was cleared with Dane prior to publishing, so he’s cool with me sharing his name, the story, and the name of his new company.