Sunday, July 31, 2016

Nets.web domain Sold For 135million dollars

The auction for ownership of the .web
domain has ended with one company
paying $135m (£102m) for rights to use
the suffix.


A company called Nu Dot Co won the auction
and can now offer firms the chance to own a
domain ending .web.
The figure is three times as much as was paid
for the previous record holder, .shop, which
went for $41.5m.

Losing bidders for the domain included Google
and net registry firms Afilias, Radix and
Donuts.

The process of selling the potentially lucrative
suffix began in 2012 but has taken until now
to resolve because many different companies
applied to run it.

It was almost delayed again because earlier
this month bidders Radix and Donuts
alleged that they had found "discrepancies" in
Nu Dot Co's application to take part in the
auction that, they said, should lead to the
whole thing being postponed.

Icann, which oversees the net's address system,
dismissed the allegation saying it was
satisfied with Nu Dot Co's application and
there was no need for the sale to be delayed.
Donuts, which owns the .business and
.company domains, then launched legal
action seeking a restraining order to delay the
sale.
The application for this order went before
a judge in California earlier this week who
denied it citing questions over whether Donuts
had the right to apply for a delay.
Icann also filed an affidavit to the court
saying the auction was being run in
accordance with its terms and conditions.
It is not clear what Nu Dot Co intends to do
with the .web domain and when it will be
available for net firms to use.
Icann has now sold the rights to more than
16 top-level domains that can be used in the
same way as the more familiar .com and .org
suffixes. Other domain suffixes sold include
.app and .hotel. Icann has raised about
$230m from the sale of these domains.
Auctions are still pending for a further 16
domains that several companies are bidding to
control.

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