Net's .web domain sold for $135 million

It’s been confirmed that a shadowy company has busted out a record of $135 million for the domain address “.web”. Nu Dot Co is the winning bidder. They paid a figure of three times bigger to the previous record of $41.5 million for “.shop.”

Competitors failed in the bid for the domain includes Radix and Donuts, Google and net registry firms Afilias. Nu Dot Co now offers the firms to own a domain ending “.web.”

Beginning from 2012, it took a long process to sell this productive suffix as many different companies applied to run it. Earlier this month, Bidders Radix and Donuts claimed that they found “discrepancies” in the application by Nu Dot Co for auction. And this caused a delay again for a month. ICANN, the firm which oversees the net’s address system, declined the allegation and stated that the application of Nu Dot Co is satisfactory, and there is no need to delay the auction.

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Donuts launched a legal action seeking a restraining order to delay the sale. The judge in California declined the application and summoning its right to apply for a delay. ICANN filed an affidavit to the court saying the auction will be held according to its terms and conditions. However, it is not clear about what Nu Dot Co is planning to do with the .web domain and about the availability of the net firms to use.

“New Generic Top-Level Domain Program auctions are the community-established, last resort method to help determine which applicant will have the opportunity to operate a particular new generic top-level domain, when multiple entities vied for the same or confusingly similar domains,” said Akram Atallah, president of ICANN’s Global Domains Division.

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Till now, ICANN has sold the rights to more than 16 top-level domains raising about $230 million including .hotel and .app. Several companies are bidding to control the pending auctions for the further 16 domains.