Escrow.com reports GMV growth but lower revenue in Q3
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Freelancer Limited, the parent company of Escrow.com An online escrow company widely used to close domain sales. Full definition of Escrow.com, reported that its gross marketplace value rose 28.0% year over year to $153.1 million in U.S. dollars in its Q3 business update. Revenue fell, which the company attributed to a slowdown in the domain market during the Northern Hemisphere summer, and it expects a bounceback in Q4.
in plain words
Escrow.com helps people buy and sell online, including domain names. Its parent company, Freelancer Limited, said sales volume went up in the third quarter but money earned went down. The company blames a quiet summer for domain sales.