It happens all the time, a startup raises funding and decides to put some of their raise towards a stronger domain name. However, in other cases they just change the name because after raising a round they are ready to brand under a different name. That is the case with FilePicker.io who announced today that they are rebranding as Ink File Picker and moving to InkFilePicker.com.
The founder and CEO, Brett van Zuiden told TechCrunch,
stands for something much larger than the former, more product-focused title (source – TechCrunch)
The domain name InkFilePicker.com was hand-registered on June 7th and the company is branding itself as Ink. While some domain owners might say, “They should have bought Ink.com!” That actually isn’t going to hurt them at all in this case. Ink.com is being used by the Flint Group and anyone who accidentally does go to Ink.com will instantly see they are on the wrong site and probably go to Google and type “ink file picker” since that’s what the company does and owning the exact-match .COM they’ll be right there at the top.
While a domain broker might try to convince a startup like this to go for Ink.com, I think they’re spending their funding dollars very wisely. Even if Ink.com were for sale it would be at least $500K but probably more and spending 25%-50% of their funding on a domain doesn’t make any sense.
They already have customers, they have funding, and they have a team that can execute. Now they have a domain that they paid less than $10 and the ability to call themselves Ink. Remember, for a startup the secret sauce is building a great team that can execute on a great idea, with $1.8M in funding I am sure Ink will continue to rock it. Congrats to the whole team on the rebranding!