TLD Auctions Have Raised More Than $50m For ICANN, With Google’s Purchase Of Dot App For $25m The Richest So Far
The Dot Ping Top Level Domain (TLD) was one of two recent domain auctions that ended, and it reached a respectable $1.5m fee. However, Google’s $25m acquisition of the Dot App domain remains the richest resolution so far. Amazon managed to secure two TLDs recently, dot buy and dot spot, bringing their spending to more than $6.5m, although this figure will be higher because of their purchase of dot coupon.
For years, buyers and website owners have been heavily restricted to a selection of dot com, info, org, and a handful of other top level domains. However, more than 500 top level domains have now been resolved, including some dot brand domains, and while it is believed that some companies have made acquisitions simply to protect their brand, other acquisitions certainly hint at a genuine use in the future. Furthermore, some of the new top level domains, such as .bank and .tickets will be made available to specific and targeted groups or individuals. The dot bank domain, for example, will require that registrants be verified by VeriSign.
Google had initially hoped to keep the dot app domain closed but came under considerable pressure from governments and other groups. They will make the domain available, although it is believed that they will try and control registration to those owners that develop or intend to develop applications.
The TLD Auctions
Google had to beat competition from more than a dozen other bidders, including Amazon, who would seem to have a clear TLD plan in mind. They have now purchased dot coupon, dot buy, and dot spot with approximately another 500 top level domains to be made available in the future.
Other domains that have been resolved through the auction process include dot tech, which sold to Dot Tech for $6.7m, and the most recent sale of the dot ping domain which was bought for $1.5m by Ping Registry Provider.