TLDH raises cash stockpile ahead of new top level domain name releases.
Top Level Domain Holdings, which owns Minds + Machines, has conditionally raised about $7.5 million through the sale of stock.
According to a release this morning:
The Company intends to use the Placing proceeds to provide additional working capital and in particular, to develop the business ahead of the expected formal commencement by the Internet Corporation for Assigned Names and Numbers (“ICANN”) of the application process for the introduction of new generic top level domains (“gTLDs”).
This money is on top of about $5.5 million cash the company currently holds.
CEO Antony Van Couvering said:
The Board of TLDH is delighted with the support and enthusiasm we have received from our shareholders for this funding round and we are confident that our company is very well positioned to both facilitate and benefit from the exciting opportunity to develop new generic top level domains.
Indeed, it appears the applications for new top level domains will finally open next year barring any preemptive legal challenges that create injunctions.