LAGbook Acquires Top-Level Domain Name Naijabook.com for $10,000 USD

Ladies And Gentlemen book (LAGbook) yesterday acquired the top-level domain name Naijabook.com for $10,000 USD from an undisclosed owner residing in the United Kingdom. End Quote

(1888PressRelease) November 16, 2012 - Yesterday, Africa's largest and fastest growing social networking website LAGbook acquired the top-level domain name Naijabook.com from its owner who chooses to remain undisclosed. The domain name was purchased at $10,000 USD from its owner who resides in the United Kingdom.

"When LAGbook expanded to the Nigerian population three months after inception, we wanted to purchase the domain name Naijabook.com and rename our social network, but at that time, we had little money to get it done. So we stuck with our name LAGbook, and rebranded to emphasise the capitalisation of the 'LAG', which means 'Ladies And Gentlemen'", says Chika Nwaogu, co-founder of LAGbook.

Chika continued, "Though we have purchased the domain name yesterday, we do not intend to change our name what-so-ever, and this is because of two reasons. One; we are no longer a Nigerian phenomenon; we are a global one with strong and rising international penetration especially in India, United States, Germany, Denmark, and the United Kingdom. Two; we have gotten appreciably popular with the name LAGbook, and we think it's going to be super uncool to change name now".

"Naijabook.com is not the only domain name that takes our fancy. We hope to purchase in the nearest future domain names like Africabook.com, Datebook.com and Socialbook.com", says Chidi Nwaogu, Co-CEO at LAGbook.

Chidi continued, "We do not intend to build sites on these domain names once purchased. Just like we did with Naijabook.com, we intend to buy them, and forward them to LAGbook.com; this means users visiting Naijabook.com will be simply redirected to the LAGbook social network".

"Purchasing the Naijabook.com domain for $10,000 USD is a great financial decision. When I was appointed LAGbook's Chief Financial Officer in August 2011, LAGbook was much of a Nigerian thing, and I was aware of the fact that Chidi and Chika wanted to purchase the domain name Naijabook.com but were unable due to insufficient funds. Naijabook.com is a top-level domain; a domain name many Nigerian-born social networks will die to have in their possession. So, I think it will do us a whole lot of good if this domain doesn't go into any other hands for a very long time", says Josh Osemwegie, CFO at LAGbook.

"Top-level domains already have a significant amount of traffic to them, so acquiring the domain name Naijabook.com will top-up our publicity", says Nosa Ilegbinehi, Chief Publicity Officer at LAGbook.

In just 2 years, LAGbook has become Africa's largest and fastest growing social networking website with over 600,000 registered users and 6,000 daily new-signups.

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