Walgreen Buys Drugstore.com for $429 Million


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The Wall Street Journal is reporting that Walgreen is going to buy Drugstore.com Inc for $429 million. Of course this is sale of a whole business and not just a domain sale. Drugstore.com is an established online drugstore that had $456 million dollars in sales last year.

But I do not think that Walgreens would think about buying Cheapest-Drugs-Online.net for the same kind of price. The killer domain name helped Drugstore.com to become a leading online drugstore.

It is another example of huge companies buying smaller companies with killer domain names. (Amazon and diapers.com) It is obviously not just about the domain name, it is about the sites current revenue and customer basse.

Walgreens chief executive, Greg Wasson, said “Our acquisition of Drugstore.com today significantly accelerates our online strategy to leverage the best community store network in America by becoming the most convenient choice for health and daily living needs whether customers shop online or in our stores,”

Walgreens has been expanding online with an iPhone app, mobile web site and also a service that texts you when your perscription is ready.

It will be interesting to see is Walgreens does what amazon does and continues to let Diapers.com run no its own or will Walgreens take over the site or just forward it to its site.

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Comments

3 Responses to “Walgreen Buys Drugstore.com for $429 Million”

  1. Jeff Edelman
    March 24th, 2011 @ 8:29 am

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    Always great to see a sale like this. Of course it isn’t remotely close to a “domain” sale. It’s already a huge business. But the domain name was integral to the development of the business and shows the value of a category killer domain.

  2. Walgreen Buys Drugstore.com for $429 Million | Domain Industry News
    March 24th, 2011 @ 12:12 pm

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    [...] link: Walgreen Buys Drugstore.com for $429 Million Tags: business, buy, content, domainer, domains, news, sales, teendomainer, the domain [...]

  3. Jeff Edelman
    March 25th, 2011 @ 8:58 pm

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    I read a bigger article on this today in the New York Times and was shocked to learn that Drugstore.com has never had a full profitable year. So perhaps Walgreens put a higher value on the domain itself than I would have thought without knowing that fact.

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