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Verisign releases statement about .Web

Verisign plans to “quickly grow .web”.

Verisign (NYSE:VRSN) released a statement this morning about .web.

It said what we already know: Verisign backed Nu Dot Co’s bid for .web. Once Nu Do Co executes the contract, it will seek to transfer the contract to Verisign through the ICANN process.

I’m curious how much Nu Dot Co will receive for playing this role. If it had gone to a private auction, it probably would have banked about $10 million by splitting proceeds amongst the losers. So you can assume Verisign paid it millions for the deal.

But there might be more to it. Verisign’s 10-Q stated that it will have to pay about $130 million for the transfer of contractual rights. Was this merely “about,” and the number was an estimate because it was a last-minute insertion in the 10-Q? Or will it pay some sort of royalty or earnout to Nu Dot Co? We’ll have to wait and see.

As for Verisign’s plans for the domain, it stated:

As the most experienced and reliable registry operator, Verisign is well-positioned to widely distribute .web. Our expertise, infrastructure, and partner relationships will enable us to quickly grow .web and establish it as an additional option for registrants worldwide in the growing TLD marketplace. Our track record of over 19 years of uninterrupted availability means that businesses and individuals using .web as their online identity can be confident of being reliably found online. And these users, along with our global distribution partners, will benefit from the many new domain name choices that .web will offer.

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  1. John says

    Well if that’s the case, too bad they don’t have .US as well. Or GoDaddy. Practically anyone but Neustar, the black hole of cyberspace when it comes to .US (dot what?).

    And if that’s the case for .web, then perhaps they won’t do the premium thing or EAP thing that gets done these days, though I know that’s still a lot to wish for.

  2. Drewbert says

    So they’ve taken a 135 million dollar punt on .web?

    A shame they couldn’t exhibit the same confidence in their IDN gTLD’s.

    How much would it have “cost” them to give their existing [IDN].com clients the matching [IDN].IDN for the first year free? 10 million dollars tops?

    Instead, they charged then more than they do for .com and then slapped them in the face with “premium” pricing. And now Japanese and Korean [IDN].com registrations are wallowing around at “embarrassingly low” levels.

    Way to go, Verisign.

    How about putting the guy who signed off on the .web purchase in charge of your IDN program?

    Please.

  3. Steve says

    NDC will get lots of hay for being the Trojan Horse in the capture of .web.

    That $185 K application fee for .web will generate an outstanding ROI.

    If Verisign does roll out .web with land-rush, etc, and with a road map and partnerships solidified, I’ll try to acquire the .web names to align with many of my premium .com, .net, .org and .me. names, depending on how they offer to the public: land-rush, auctions, etc

    I assume the Donuts suit/complaint filed against Verisign has been withdrawn, or is that still open?

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