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NECO - National Event Company

Process Overview

Engagement

National Event Company (“NECO“), founded in 2006, was an industry leader in providing VIP access and premium tickets to concerts, Broadway theater, red carpet premiers and sporting events worldwide. In June 2017, NECO filed for bankruptcy and, subsequently, the secured lender foreclosed on NECO’s assets.

Brand Background

The foreclosing lender retained Hilco Streambank to market and sell NECO’s remaining intangible assets, which included NECO.com, TheUltimateFan.com, additional domain names and a portfolio of toll-free and vanity phone numbers.

Marketing Process

Hilco Streambank developed a marketing program designed for the sale of the NECO intellectual property assets. We identified and reached out to over 200 potential buyers, and developed an opportunity teaser detailing the offering. Given that the portfolio included numerous domain names, we established an online auction for the assets through Hilco Streambank’s online auction platform.

Outcome

The auction resulted in sales of the NECO.com and TheUltimateFan.com domain names along with the portfolio of toll-free and vanity phone numbers in February 2018. The terms of the sales were not disclosed.


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