Remember that guy you hate, Rick "Domain King" Schwartz? He sold iReport.com to CNN for $750,000 earlier this month. Well, the feeling's not mutual. He doesn't hate you. He just wonders why he's only one living the way he does. Schwartz told Sydney Morning Herald he's shocked more people don't get into the business of trading domain names. Because really, it's a fabulous life. Just ask the King himself.
CNN introduced their own YouTube/America's Funniest Home Videos user-generated content bonanza "iReport" last year to vague acclaim, prominent website placement, and a Sunday afternoon televised roundup. Now they've finally caved and bought the domain names "ireport.com" and "i-report.com" from a squatter who picked them up for $100 in 1997 and unloaded them to CNN for $750,000. All so that the nation may more easily find photos of puppies that look like baby polar bears. [Silicon Alley Insider]