Alter.com Marketplace

[Deven Patel]

Hi all,

I wanted to introduce a new premium domain marketplace we just launched called Alter. I would love to hear your thoughts! As the world’s largest community of domainers, your feedback would be invaluable.

Let me introduce myself. Although I’m new to NamePros, I’ve been around the block. I’ve been buying and selling domains for my own startup ideas for over 20 years. As a serial entrepreneur, I founded a number of startups across various industries like marketing, web hosting, social networking, blogging, and SaaS. This experience has helped me understand how indispensable a brand name is to a business.

Most new entrepreneurs don’t think twice about their company name. Our goal is to change that! A brand name literally has the power to make or break their business. This is more true today than ever before now that there are countless alternatives to every product or service imaginable. Sure, every business may have their own world-changing differentiator but from the outside they all look the same at which point the main differentiator ends up becoming their brand name. In a world full of distractions, we no longer have the attention span to thoroughly research what we buy so we rely on our emotions. This is why large businesses like Apple and Amazon spend billions on their “brand” alone because they understand that customer perception is everything.

Anyway, I noticed that most marketplaces that exist today are focused more on the seller rather than the buyer. Our goal is to reverse the equation and prioritize buyers because I think they are the key to success in any industry. The domain industry is no exception. Without buyers, there’s no money. This is why we’ve made it our mission to help entrepreneurs succeed!

And what’s with the 30-35% commission rate most of these marketplaces are charging? Unless they’re doing more work than a human broker, I don’t think anything over the industry average of 15-20% is warranted. We’re changing that. Alter has one of the lowest rates in the industry, an all-inclusive 10% commission fee when a name sells. There are no other fees or restrictions.

What do you think? Are we on the right track or barking up the wrong tree?

Deven

This was a promoted post.​

 

[Charybdis]

-

 

[Future Sensors]

What happened

 

[Charybdis]

-

 

[Deven Patel]

@Charybdis On behalf of Alter, please accept my sincerest apologies for this inconvenience. It’s an unfortunate consequence of the current situation. We did the best we could and gave you the option to either (1) move forward and accept the risk that comes along with an uncertain future or (2) reverse the transaction and help connect you with the buyer.

I also wanted to take this opportunity to update everyone on the current status of the company. Alter is still in the middle of the acquisition process. Unfortunately, the buyer went MIA a week and a half ago. Despite repeated attempts to contact them, I haven’t heard back so giving them a few more days as a benefit of doubt. To date, all my interactions with the buyer have been very positive so not sure what’s really going on. I hope they’re okay personally.

 

[Charybdis]

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[Deven Patel]

@Charybdis I completely understand your frustration but please try to put yourself in our shoes and think about it. I don't know what we could have done differently in this situation besides be totally honest with you. Regardless of whether a marketplace is big or small, established or not, it's the reputation of the people behind it that matters. In this case, we need the new owner to chime in and help provide more clarity around Alter's future but unfortunately they have been MIA.

You're no fool. Please don't be too hard on yourself. Chances are the person who bought your domain will still buy it from you. These types of things happen pretty often in business. In fact, I am in a similar situation myself right now. I'm spending cold hard cash maintaining the platform on behalf of the new owner while he is nowhere to be found.

On that note, have you or anyone else heard from @F.E. recently? I've been trying to reach him over the last week and a half without any luck. It's crucial that he contact me ASAP otherwise he will be in breach of our contract. It's also not fair to leave domain sellers who have been patiently waiting for an update in limbo. Again, all my previous interactions with him have been very positive so hoping he's just going through something personally. If not, this behavior is very unprofessional, let alone illegal.

 

[FranckJ]

@Deven Patel I heard from here every single day and it would be very weird he let you without any reply. It's even impossible.

 

[Bob Hawkes]

On that note, have you or anyone else heard from @F.E. recently? I've been trying to reach him over the last week and a half without any luck

That is really concerning. He was active on Twitter as recently as just under 2 days ago when he posted he would be off social media this weekend with family plus things.

I really hope sale proceeds and Alter continues to operate. I see many strengths in marketplace, and @F.E. has ideas for further development.

Thank you for continuing to maintain it during interim period, @Deven Patel

Bob

 

[F.E.]

https://twitter.com/x/status/1517989642376781827

Update next week.

@Deven Patel - lawyer up.

 

[Deven Patel]

@F.E. Hello! Glad to hear you're okay and very sorry to hear about your personal situation with your godfather's father having cancer.

Sounds like there's a major misunderstanding here. I haven't accused you of anything yet. As I mentioned in my previous message, my past interactions with you have been very positive and I have nothing but respect for you my friend.

That said, I haven't received any kind of communication from you since Apr 11 which of course any normal person would find concerning. I'm glad you replied to my email but unfortunately I haven't received those replies on my end either. Do you mind texting me back so we can continue where we left off? It would be much appreciated.

Lastly, I have no time or interest in pursing any kind of legal action against you. The situation is very simple. If you want to follow through with the acquisition then great. Otherwise, we can both be on our merry way. I just want to ensure the domain sellers aren't left in a limbo in the meantime due to the uncertainty.

Again, I appreciate your reply here and hope to hear from you soon (feel free to call or text anytime).

 

[FranckJ]

A little bit late for a change of tone

 

[FranckJ]

-11 lol
Looks like you all have forgotten objectivity.
From "very unprofessional, let alone illegal" to emojis

 

[Charybdis]

Leave me out of this drama please. I terminated my contract with the Alter.com marketplace (Alter.com, Inc.) prior to the acquisition. I deleted my account and all my domains.

Prior to terminating my contract with the Alter.com marketplace, I had honored all my domain sales there, I had paid all my due commissions to Alter. I had honored every transaction promptly and professionally. My average response time was a few hours, even on weekends.

I don't have any active installment plans on the Alter.com marketplace.

I requested to permanently delete all my private data from the Alter marketplace, according to the GDPR regulations.

Dear Alter.com, Inc., I do not give you permission to contact me again and I do not want to participate in the Alter.com marketplace anymore as a seller, thank you!

 

[F.E.]

You pretty much see what's my position on all this drama caused by you (@Charybdis) and Deven in both my private messaging and here, publicly in the attachment below.

Understand that the moment I am out of holiday (which I can't even celebrate without personal stuff that's happening and now this), I'm gonna proceed with cleaning my name using legal means and closing this drama as I've should.

Please note that I had no interest making any breach of contract, but now in order to clear my name, that's what's going to happen so we can show who's who. Public statement will be made by the end of following work week once consultation has been made.


Peace.

 

[Reyginus]

Please note that I had no interest making any breach of contract, but now in order to clear my name, that's what's going to happen so we can show who's who. Public statement will be made by the end of following work week once consultation has been made.


Peace.

Is this even necessary?

 

[HandmadeLife]

Since the first day and I think that this person @F.E. is more attention-grabbing than a real buyer.

I don't think he will complete the purchase of alter, just more time and more Twitter followers + a little famous in the world of dominers.

who talks a lot does not do anything much, at least he would develop his own website !!!

all my respect to him, but this is how I feel about him since the first day.

 

[F.E.]

And my Twitter account has been recreated with 0 followers and followings.

I could not care less about attention.

 

[karmaco]

Sounds like some buyers remorse to me. Amazing how prolific tweeting wasn’t an issue for you (and sharing your sales and purchases) but ignoring everything Alter related apparently was.

Deven has never been anything but kind and professional. No one has said one thing against him or Alter. Until you.

You are ruining your own rep not Deven, not the sellers. Good luck. Intimidation is not a good look and the public airing of whatever the misunderstanding was and making threats is a no no here.

 

[HandmadeLife]

Please deven continue your projects away from this person, he said in his interview with Bob that he started this field a few years ago and has money from crypto as a former player from the beginning.

at the same time he said on Twitter that he sold a domain with 8 figures!! After it was rated it was worth nothing!!!

At the same time, he sells a lot of his domains for $20 and $30!!! .

He is a contradictory person please stay away from him.

all my respect to him but he will not buy alter

 

[FranckJ]

You guys have weird way to show "respect" to people you don't even know.

 

[johnn]

Fake Offer
F.E. stands for Fake Excuses
You can tell from all of his posting here. A businessman don't do what he did and don't make any announcement or prediction UNTIL the deal is sealed.

 

[FranckJ]

OK boomer

 

[MasterOfMyDomains]

Getting juicy
I have never used alter, never will now
If u got so much money go start your own brandable marketplace
I followed this thread as Deven acted so professionally, i follow a .org around seeing what the smart money is doing
There is multiple threads on this topic, hard to keep track but most important thing in business is customer and Deven has done A1 job of taking care of those that feed him. There was to much bragging before everyone signed on dotted line. Your making quite an impact @FranckJ

 

[F.E.]

If he did such a great job, than why the hell domain sellers came to me screaming?

 

[HandmadeLife]

If he did such a great job, than why the hell domain sellers came to me screaming?

Fakers are talking now.