Amazon Just Paid Nearly $5 Million To Own The Entire '.Buy' Web Domain
Domain Name Wire reports, via The Next Web, that on Sept. 17, ICANN, the organization that controls the world's domain names, held an auction to sell four hotly contested domains: .buy, .tech, .vip and .?? ("Information" in Mandarin).
Companies looking to buy exclusive use of a new domain have to pledge to pay escalating amounts in order to progress through the rounds of an ICANN auction. Amazon won the right to use the .buy domain name after Google bowed out of the auction.
Google was also hoping to snap up the .vip domain name, but again it was outbid. Ireland-based domain reseller Minds + Machines bought .vip for just over $3 million.
Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- From terrace to table: 8 Edible plants you can grow in your home
- India fourth largest military spender globally in 2023: SIPRI report
- New study forecasts high chance of record-breaking heat and humidity in India in the coming months
- Gold plunges ₹1,450 to ₹72,200, silver prices dive by ₹2,300
- Strong domestic demand supporting India's growth: Morgan Stanley