AreaRugs.com Domain Purchased By Investors

Des Moines, IA, Sept. 22, 2009--AreaRugs.com has new ownership, having been bought by a group of investors for $405,000 for just the domain.

Randy Ward, president and CEO, said the company's goal is to be the number one shopping destination online for area rugs.

"It is very rare to have the opportunity to buy a premium '.com' domain name in a proven online consumer category," said Lee Weber, head of marketing.

The Web site currently serves as a domain for consumers and designers to learn more about area rugs. The company said an e-commerce store will be launched in several months.

By leveraging their brick and mortar buying power, they will be able to offer some of the best prices and largest selection of area rugs.

"We have formed a partnership between a group of investors that includes the state of Iowa's largest carpet/rug dealer and some of the state's leading online commerce and marketing experts," said Ward.