Financial statements or public announcements by Friend

AI Startup 'Friend' Spends $1.8 Million on Domain Name from $2.5M Raised

Jul 30, 2024, 10:29 PM

An AI startup named 'Friend' has spent $1.8 million on acquiring the domain name friend.com. This expenditure represents a significant portion of the $2.5 million the company raised in funding. The purchase has sparked discussions on social media, with some users noting that such a high price for a domain name is not unprecedented and can be justified as an investment in intellectual property. Others have pointed out that the payment was likely structured over time, rather than being made upfront, and that investors were likely aware of this strategy. The domain was sold by a previous owner who described the buyer as a 'crypto nerd.'