Net's .web domain sold for $135m

Net’s .web domain sold for $135m

 
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, whoch went for $41.5m.Losing bidders for the domain included Google and net registry firms Afilias.
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, whoch 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, whoch 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.

Källa: Net’s .web domain sold for $135m – BBC News