LONDON (Alliance News) - Minds + Machines Group Ltd said Friday that it has secured the uncontested top-level domain .dds, although it has lost out on .blog and .store.
As a result of withdrawing its applications for .blog and .store, the company has received net proceeds of USD3.4 million including refunds it will receive from the Internet Corporate for Assigned Names and Numbers. This brings its cash and cash equivalents to USD48 million.
A generic top level domain is the suffix on a web address, such as .com, and the ICANN has recently allowed for a cacophony of new generic top level domains to be launched.
There is strong competition for some generic top level domains, and as part of the process, if a company settles in a private auction the winning bidder pays out to all of the losing parties.
The company said that .dds will specifically service US dental surgeons, oral and maxillofacial surgeons who require either a Doctor of Dental Surgery or Doctor of Dental Medicine degree to practice.
"We view .dds as an important and valuable niche domain that will resonate amongst qualified dentists in the same way," said Chief Executive Antony Van Couvering in a statement. "As such we see the domain being at the premium pricing end of the value range within our portfolio of top level domains."
The company's generic domains .work and .casa launched this week, the company said, and over 6,000 addresses were registered in the domains in the first two days of being made generally available. .yoga will become generally available next week.
Minds + Machines said it has separately decided to end its registry services agreement with the American Bible Society for the management and operation of the yet to be delegated .bible domain.
Shares in Minds + Machines are trading up 5.3% at 9.22 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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