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.