Escrow.com is out with their domain investment index report for Q2 2020. Business was down according to the report. The lowest since 2018. First quarter report found here, was in at $85.8 million and Q2 was down to $55.2 million.
Escrow.com Domain Investment Index Q2 2020 highlights:
- Total transacted domain names amount dropped from US$85.8 million to US$55.2 million, the lowest seen since 2018. We saw a drop in transactions as the COVID-19 pandemic started to affect domain transactions, especially in the US.
- Transactions in Hong Kong picked up to US$2.4 million in Q2. However, the other leading countries such as Canada, China, US and UK, dropped in Q2, with the US having the largest drop, from US$70 million to US$42.6 million.
- The quarter started weak in April but saw slow recovery – overall though, the quarter ended low.
- Signs of recovery are visible in areas where market participants have adjusted to ‘the new normal’, however, these months did not recover sufficiently for positive growth in volume across the quarter overall.
The full report can be found here
It may be that escrow.com wants to point at the health and economic crisis to blame for this, but they should take a minute and do some self-reflection.
They have come under fire in many circles for their support issues and I wonder how many deals have moved away from them as a result.
Surely Dan, with their seamless payment plans and Epik with their ever- constant presence and CEO who Hans holds transactions have chipped away at their once dominant position.
Escrow can find those “Signs of recovery” inside their organization too.
Exactly, they are losing business to DAN and Efty and probably GoDaddy too.
They just lost a $20,000 deal, because I had a buyer tell me they would only use Escrow.com, I told them NEVER!!! You will never get this name then, I am rich and don’t need the money so good luck finding your next choice, Escrow.com= No way.
Why would you not want to use a trusted escrow provider???
I very much doubt that people are leaving Escrow.com to use an unlicensed escrow service like Epik. Sales are way down, similar declines can be seen in Dnjournal’s reporting.
Next Dan will report numbers way down and people will argue people must have moved somewhere else yet again.
The market has fallen off a cliff in the last few months, no point trying to sugar coat or diverting from that obvious fact.
Are you crazy? Many people have left Escrow.com try reading namepros. The vitriol is at a very high level. Many people use Epik, but keep talking buddy. Epik does not have to be licensed same way GoDaddy is not licensed.
Don’t waste your time talking to him he is a know it all that still thinks he’s relevant. Epik and DAN have eaten into escrow.com big time.
https://www.namepros.com/threads/escrow-com-very-bad-services.1180608/
https://www.namepros.com/threads/first-experience-best-experience-using-epik-com-escrow.1183297/
https://www.namepros.com/threads/escrow-com-is-now-a-waste-of-time-for-domainers.1171606/
The namepros crowd definitely turned on Escrow.com. Now to be fair they need to comply with KYC laws.
Epik is quite simply unlicensed, I know they argue they don’t need a license but they argue all sorts of stuff that is not fact. Obviously an escrow service requires escrow license, do you think Escrow.com got all those licences just for fun?
The reason why Escrow.com’s number are suddenly done is very obvious. People didn’t suddenly use another service as soon as the virus hit. What happened is many endusers stopped buying domains.
As far as EPik escrow goes, then you would be mistaken Paul, simply mistaken. Many have. Even DNWE offers it as the only other option seller’s choose to offer.
Of course sales are down it’s a worldwide pandemic.
Probably more to do with their lousy customer service.