Showing posts with label of $25. Show all posts
Showing posts with label of $25. Show all posts

Friday, February 27, 2015

Google's Charleston wins ICANN’s auction for APP with N5bn price

Charleston Road Registry Inc has won the ICANN’s auctioned one new generic top-level domain (gTLD) string: .APP with the sum of $25,001,000, about N5,063,952,550.00, reports ITRealms.

ITRealms notes that Charleston Road Registry is an American company, wholly owned by Google, which was established to provide registry services to the Internet public.

On Wednesday, 25 February 2015, ITRealms reports that Power Auctions LLC, an ICANN's authorized auction service provider, conducted a new gTLD Programme Auction to resolve string contention for one new generic top-level domain (gTLD) string: .APP.

ITRealms also reports that applicants for the string were unable to resolve contention among themselves; thus their contention set proceeded to auction, which is the method of last resort to resolve string contention as prescribed in Module 4 of the New gTLD Programme Applicant Guidebook

According to the Global Director, Media at ICANN, Mr. Brad White, subject to payment of the winning price and meeting all other criteria for eligibility, the winner will enter ICANN's contracting process to sign a Registry Agreement to operate the gTLD.

He also confirmed to ITRealms that the winner emerged after the auction contested by 12 applicants in the auction for APP. 

“Charleston Road Registry Inc. prevailed with a winning price of $25,001,000,” he said.
Mr. White disclosed to ITRealms that all proceeds from the auction are being segregated and withheld from use until ICANN's Board of Directors define a plan for an appropriate use of the funds through consultation with the community.

Worthy of note by ITRealms notes that Charleston Road Registry according to ICANN books, applied for 101 new top level domains including .web, .tech, .search, .cloud .chrome, .youtube and .google.


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