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Amazon Pays 4.5 Million For .buy Domain

Ever since domain names were allowed to end with pretty much anything in order to free up some space for the myriad of new websites coming out, big companies have been throwing down massive amounts of money in order to control popular or interesting domain name identifiers.

Amazon has purchased the .buy domain, so you may see something similar to this very soon.

Recently .buy, .tech and .VIP all went under the hammer, with some of the biggest names in technology and online trading turning out in order to get their hands on the exclusive rights to use these special domain name identifiers.

Once the identifiers went to auction, it was anyone’s guess who would snag themselves the domains. Google and Amazon both were in attendance to buy the .buy domain, but Amazon managed to snag it at a respectable £4.5 million. Presumable Amazon will use the domain to sell even more stuff online.

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Meanwhile, an exasperated Google pitched in their bid for the .VIP domain, but were once again trounced by a smaller company. This time the winner was a high level domain name reseller, Minds + Machines. Presumably owning a monopoly on domains ending with .VIP will net the company huge amounts of money in the long run.

 

ICANN regulates the many new domain name identifiers that have recently been announced.

Google weren’t finished with their bidding spree, pushing for the final domain name, .tech in a massive bidding war with the domain;s namesake, Dot Tech. In what some have called a record purchase price for an auction of this type, Dot Tech went home with their namesake domain, shelling out a massive £6.7 million for the rights to the domain.

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Google’s plans might have been foiled for now, but reports show that the search engine giant is interested in over 100 new domain name identifiers, perhaps in a move to control even more of the internet.

We should see something from Amazon come out with the .buy domain identifier soon, that’s just about all from the auction for now, it’s interesting to see just how much internet domains are worth today.

Source: Techspot 

Via: The Verge 

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