Did OpenAI spend over 10 million dollars on a domain?

OpenAI's CEO, Sam Altman, shared a link on X that automatically redirects to ChatGPT, using the address chat.com. Previously, this domain belonged to Dharmesh Shah, founder and CTO of HubSpot, who acquired it earlier in 2023 for $15.5 million. However, just a few months later, Shah announced the sale of the domain without revealing the details or the buyer, although he claimed that he managed to sell it for a price higher than what he initially paid.

Shah mentioned on LinkedIn that his interest in chat.com stemmed from his belief that chat-based user experiences are the future of software. He considered that communicating with computers through natural language interfaces is much more intuitive, thanks to advancements in generative artificial intelligence. For a brief period, the domain redirected to an announcement about his purchase.

Recently, it was confirmed that OpenAI acquired chat.com from Shah, and it was hinted that the transaction was made through stock rather than cash. The removal of "GPT" from the domain chat.com is part of OpenAI's recent rebranding strategies, which in September introduced a new series of reasoning models, starting with "o1." At that time, the company’s former research lead, Bob McGrew, expressed his hope that this series would represent a first step toward clearer and more representative names for the company's work.

The purchase of "vanity" domains is a common practice in the digital world. A few months ago, for example, an artificial intelligence startup, Friend, paid $1.8 million for the domain friend.com after raising $2.5 million in funding. For OpenAI, which recently raised $6.6 billion, spending over $10 million, whether in cash or stock, is relatively insignificant.