29 Apr '14, 2pm

Xiaomi doesn’t always purchase a domain name, but when they do they spend millions.

Xiaomi doesn’t always purchase a domain name, but when they do they spend millions.

The biggest domain name purchase this year was just completed by Xiaomi, who purchased Mi.com for a cool $3.6 million USD. Prior to this, the most expensive domain sale of the year was for Whisky.com, which went for $3.1 million USD, according to DN Journal. Xiaomi is a smartphone manufacturer based in China with at least $360 million in funding, according to Crunchbase. Their 2014 plan includes significant international expansions; however Xiaomi had a significant obstacle which was its very name. Not everyone can pronounce it and even fewer can remember how to spell it. For the record, it’s pronounced “shao-mi”, where the “shao” rhymes with “cow.” Xaomi appears to have dropped the “Xiao-” from its English-language branding altogether and has simplified the brand to “Mi”, hence the acquisition of Mi.com. Xiaomi will face multi-fold competition from international phone mak...

Full article: http://www.buydomains.com/blog/the-most-expensive-domain-...

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