Company rebrands in conjunction with big fundraising round.
Freight broker payments company Axle Payments has rebranded as Denim and acquired the domain name denim.com. It announced the rebrand in conjunction with a $126 million Series B funding round.
Reflex Publishing, a company whose domains are “not for sale”, sold the domain to Denim a couple of months ago.
This strikes me as a prime example of how one word domains have moved on from being category-defining domains to being brands. Years ago, people valued domains like denim.com for the industry they defined (in this case, a fabric commonly used in jeans). Now, domains like this are used for unrelated businesses.
In this case, Denim connects the meaning of the dictionary word to its brand. In a message about the rebranding, the company wrote, “Our new brand reflects our broader ambitions to weave ourselves into the everyday fabric of the global freight economy.”
(Hat tip Tim Hargis)
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