29 Nov '14, 12am

ICANN New gTLD Auction Proceeds Approaching $30 Million

11 SHARES Share on Facebook Tweet on Twitter While the debate continues as to whether most new gTLDs are a sound long-term investment for their registry operators, there’s no disputing that the program has been an economic boom for ICANN. The 1,930 first round applications each required an application fee of $185,000, which added up to a tidy $357 million. Even after refunds for withdrawn applications ICANN still cleared about a third of a billion dollars from the first round before a single string was delegated. Now, like the proverbial gift that keeps on giving, ICANN has received a total of an additional $28.5 million in proceeds from its own “last resort” auctions held prior to November. And that total, equal to about eight percent of all new gTLD application fees, came from a mere eight gTLDs! The three highest bids were Dot Tech’s $6.8 million bid for .Tech; Fegistry...

Full article: http://www.internetcommerce.org/icann-new-gtld-auction-pr...

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