LONDON (Alliance News) - Minds + Machines Group Ltd Monday said it had lost out on the .book, .cloud, .dog, .site and .style top level domains, but has gained USD8.4 million through withdrawing its applications for the domains.
The internet domain name operator has been competing in auctions for a number of new generic-top level domains, meaning a suffix of an internet address such as .com or .net, following changes to rules governing domain names which has allowed a slew of new domains.
The company said that the USD8.4 million is net of auction fees, and includes refunds that it receives from The Internet Corporation for Assigned Names and Numbers for withdrawing applications.
Minds + Machines expects auction rounds for the remaining 20 contested applications in which it has an interest to be completed by the end of the first quarter of 2015.
The company said it was "highly satisfied" with the outcome of the auction round.
"We look forward to resolving the remaining 20 contested applications in which we have an interest by focusing in only on those where we believe we can deliver real value and to ensuring we have the most appropriate services, products and distribution channels in place to best capture market share through our portfolio of top level domains," said Chairman Fred Krueger in a statement.
Shares in Minds + Machines are trading down 0.5% at 10.32 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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