Amazon Buys .Buy Domain for $4.6 Million

Josh WolfordBusiness

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In yeah that makes a lot of sense news, Amazon has reportedly purchased the highly-coveted new .buy top level domain, and apparently the company beat out Google in the process.

Domain Name Wire reports that Amazon bought the .buy domain for $4,588,888. Other companies in the running in ICANN's auction were Google and Famous Four Media.

Google also lost out on another domain it was vying for – .VIP. That sold for just of $3 Million to Minds + Machines, a top level domain reseller.

ICANN's auction also had .tech up for bid – and it sold for the highest price, $6,760,000. Domain Name Wire suggests that this is probably either a record for a top level domain acquisition or pretty close to a record high.

It is expected that these new domains will open up later this year.

Considering a majority of Amazon's business involves people buying stuff, .buy must've seemed like a no-brainer for the company. It's likely that Amazon will register the most lucrative .buy names, and sell the rest for premium bucks. At least that's what I'd do.

Though Amazon now owns .buy, there's one gTLD the company won't have the rights to. In July of 2013, ICANN nixed Amazon's attempt to own the .amazon domain.

Domain Name Wire via The Next Web

Josh Wolford
Josh Wolford is a writer for WebProNews. He likes beer, Japanese food, and movies that make him feel weird afterward. Mostly beer. Follow him on Twitter: @joshgwolf Instagram: @joshgwolf Google+: Joshua Wolford StumbleUpon: joshgwolf