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Tech Industry snaps up rival domain name

The online pet store signs a letter of intent to acquire the domain name from the eponymous--and now defunct--e-tailer, in a deal that routes customers to its site. is dead. Long live! has signed a letter of intent to acquire the domain name from the eponymous--and now defunct--e-tailer. As part of the agreement, customers are already being sent to became well known for selling pet supplies online through its popular "sock puppet" ads. Through the deal, hopes to build on that branding success, said Lynne Adams, a spokeswoman for parent company PetsMart.

    "This gives us access to users we know who are interested in pets," Adams said. "This is another layer of helping draw people to the ( site who may not have been there in the past." owns a slew of other domain names, including and As part of the deal, will acquire some of these domain names also, although Adams declined to say which ones.'s sock puppet is not included in the deal, which Adams said should close next month. Adams declined to give the financial details of the agreement, saying only that the deal was "not a material transaction" for either company. signed the letter of intent Wednesday, one day before the company withdrew its planned initial public offering. Earlier in November, brick-and-mortar pet supplies giant PetsMart agreed to invest $30 million and take a controlling interest in its namesake. closed shop last month, laid off 255 of its 320 workers, and has been selling its assets. The company sold its Flying Fish Express unit, for instance, to Eric Silverman, who founded the online fish store in 1997. Silverman sold Flying Fish Express to last year; earlier this year, acquired

    To entice shoppers to purchase from, the company is offering $10 off a $25 purchase to first-time shoppers who reach the site through the domain.

    Despite having to postpone its IPO, stands poised to be the leader for online pet supplies. Not only have and gone out of business, but Petopia, backed by offline rival Petco, laid off 60 percent of its staff in October.