It’s one of many patents the company owns related to domain appraisals.
GoDaddy (NYSE: GDDY) has been awarded U.S. Patent number 11,615,313 (pdf) for “Using a value for a domain name determined by a machine learning engine.”
Here’s how the company summarizes the patent:
The present invention provides methods for 1) creating a training set for a machine learning engine to value a target domain name using a database of a plurality of sold domain names; 2) training the machine learning engine on the created training set to value the target domain name; 3) determining a value of a target domain name using the machine learning engine trained on the training set and 4) using the predicted value of the target domain name determined by the machine learning engine. In preferred embodiments, these methods, once set-up by a user, are performed automatically and without human intervention. Users are preferably able to monitor the processes and adjust values (such as a learning rate of the machine learning engine), but each of the steps themselves, once started, are preferably run automatically and entirely by a Domain Name Valuation System (DMVS) without human intervention.
GoDaddy has many other domain appraisal-related patents.
Jason Ansel is listed last as the inventor. He was an engineer at GoDaddy at the time and now works for Meta Platforms.
GoDaddy applied for the patent in April 2020, and it was granted today.
So, in other words, all the valuations it’s been giving out for the last decade have been wrong… wow, what a big shocker!!!
Mark Thorpe says
Donain Appraisals still won’t be accurate.