Congo, the online marketplace for lawyers, announced the launch of a contest to help identify a new company name. The Boulder-based tech startup provides an online platform for individuals seeking legal advice to schedule time with an attorney and connect via video chat.
What could possibly persuade an up-and-coming startup to change their name? After nearly two years, co-founders Willy Ogorzaly and Tyler Cox were faced with a difficult decision; cough up $750,000 for the Congo.com domain - which was being squatted on by domain holding company, DigiMedia - or go through the process of rebranding.
“Basically, this was a classic story of David vs. Goliath” Cox says, “we reached out to DigiMedia to try and broker a reasonable deal that would make both parties happy. What they counter-offered was this egregiously over-inflated valuation of $750,000.” Ogorzaly goes on to mention “we realized how much more value we could produce with the $750,000 going towards the development and marketing of new features for our users, and it became a pretty easy decision. We told we’d give them $3,000, and not a penny more.”
Ogorzaly and Cox wanted to cast a wide net in their search for a new name and are offering individuals the opportunity to submit suggestions for the chance to win $1,000.
Beginning October 27, 2015, users are encouraged to submit new company name suggestions on this submission form. The only requirement for each submission is that the URL associated with the name features a domain ending in .com and is available to buy for less than $3,000. Applicants can check the availability of a URL name at GoDaddy.com.
There is no limit to the number of entries per person. Contest submissions will be accepted until 11:59 p.m. MST November 11. A $1,000 prize will be awarded to the individual who submits the winning name.
“With this new name, we have the opportunity to rebrand using the lessons we’ve learned over the past two years,” said co-founder Willy Ogorzaly. “This will ensure that our company name reflects our brand that’s been built with our customers in mind.”
Clients can browse through attorney profiles and book an appointment with an attorney in just a few clicks. Got.Law aims to bring the entire attorney-client relationship online as they establish the first free market for legal advice. Attorneys pay a monthly subscription fee to list their services and appointment schedules on the site. Users can use the site for free and pay attorneys directly for their services.
Recently, Congo received a boost in funding as they seek to expand the platform across Colorado. After closing a $250,000 seed round of funding from an undisclosed investor, the funding will be used to help Got.Law expand beyond Boulder, Fort Collins and Denver into the rest of the state.