Top Level Domain Holdings (LON:TLDH) said by losing the private auctions for .website and .lawyer, which concluded on Oct. 23, it will add £2.97m ($4.81m) to its cash reserves.
The 14 previous new gTLD private auctions held by ApplicantAuction.com, totaled $18.9 in winning bids or around $1.33 million per string.
This week ApplicantAuction.com declined to furnish a total amount raised in the auction for 4 string auctioned, telling theDomains.com that they would not be furnishing a total this time around, unlike the previous two rounds.
However since two of the private auctions involved a public company, TLDH announced the results of .lawyer won by Donuts and .website won by Radix.
These two strings averaged over $2.45 million dollars.
.Website had two losing applicants while, .Lawyer only had one losing applicant.
Since TLDH did not say how much they received from each auction, we don’t know how much each losers share of .website got and therefore what the total amount paid for the two applications were.
Chief executive Antony Van Couvering told Proactive Investors today:
“We consider this a real success. We have a number of these to do and we look at it strategically.”
“There are ones we liked more,” .
Fred Krueger the Chairman of TLDH told Proactive Investors “We are delighted with the result of the latest private auction rounds. Our strategy remains to best monetize those applications where we see least value so that we can maximize our ability to acquire those names in which we see greatest value. ”
“We very much look forward to competing in the next private auction rounds.”
“Krueger described this as a momentous point in the Internet’s development and means there is a strong probability that the firm’s portfolio will move to cash generative positions within the time-frames previously indicated.
“Following the receipt of cash from the latest round of private auctions, Top Level will have cash reserves of £10.1 million and access to up to a further US$15 million to compete in a single auction.”
“The reserves will allow the company to continue growing its portfolio of uncontested applications and move its portfolio to launch. TLDH’s portfolio of uncontested applications in which it has interests remains at 25 – 17 of which it wholly owns.”
The company’s shares opened 20% higher before easing back to being up just over 7% in trading in London today.…
