New domain continues to grow in China.
.VIP is proving to be a winner for MMX (Minds + Machines).
The company announced today that it already has $5.5 million in sales (wholesale) of .VIP domains after three weeks on the market.
It paid $3.0 million to win rights to the domain in an ICANN auction. Not a bad payback period.
Over 400,000 .vip domain names have been registered and all have been paid registrations. MMX CEO Toby Hall commented:
The exceptional take-up we are seeing of .vip is being achieved without using a freemium strategy or equivalent to boost numbers – the latest surge coming from standard name registrations bought through the registrar channel. This bodes well for renewal rates and the long-term reputation of the domain. We very much look forward to the ongoing growth of .vip billings.
While most of the demand has been in China, .vip also has some demand in the West. I pre-ordered about ten domains at GoDaddy and all but a couple ended up in auctions. I now own Florida.vip, Austin.vip and Backstage.vip.