28 Feb '15, 9pm

Google Pays $25m For .APP As ICANN gTLD Sale Coffers Grow

And as a result ICANN now has net proceeds of $57,015,622 in its piggy bank as a result of auctions for new gTLDs that were in contention. All proceeds from auctions are being segregated and withheld from use until ICANN's Board of Directors define a plan for an appropriate use of the funds through consultation with the community. In the latest auction twelve applicants participated in the two day auction for .APP with one of Google's entities, Charleston Road Registry Inc., prevailing. Previously the highest prices paid for a gTLD string was for .blog, which Domain Incite estimates was sold for less than $20 million. In the .app application, Google "originally proposed .app as a closed registry in which only Google and its partners could register names," reports Domain Incite. "However, after the Governmental Advisory Committee pressured ICANN to disallow 'closed generics...

Full article: http://www.domainnews.com/google-pays-25m-for-app-as-ican...

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