Company paying $130 million for “contractual rights”.
The company that runs .com might soon be adding .web to its stable.
Based on an SEC filing this afternoon, it looks like Nu Dot Co was the winner of today’s .web auction and Verisign is behind the bid. (Update: ICANN has posted official auction results showing Nu Dot Co as the winner.)
Verisign (NYSE:VRSN) just filed its quarterly report with the SEC today. Under “Subsequent Event” it says:
Subsequent to June 30, 2016, the Company incurred a commitment to pay approximately $130.0 million for the future assignment of contractual rights, which are subject to third-party consent. The payment is expected to occur during the third quarter of 2016.
I’d be willing to bet big money that this is the .web auction.
Verisign was rumored to be backing Nu Dot Co’s bid for the domain name.
My sources tell me that the auction ended for $135 million this morning. It’s possible that Nu Dot Co retains some ownership in the domain, hence the discrepancy in price. (Keep in mind, also, that the winner pays the second highest bid).
The payment for this auction will be due in Q3.
Verisign didn’t mention .web on its conference call today and no analysts asked about it.