18th Feb 2015

New York Post

$4 BIL IN ‘SITE’ FOR WEB NAMES

July 16, 2007
— Inside a Midtown hotel, Larry Fischer is on his cellphone with a
financial backer as his partner, Ari Goldberger, does quick research on
a laptop computer.

They are bidding furiously at this auction of
Internet domain names, with hopes of snagging megayachts.com. The duo
won’t be deterred. They want this name.

“$110,000, yes or no? Quick,” Fischer barks at Eli, the investor at the end of the phone.

Someone else makes a bid for $120,000. Fischer and Goldberger up the ante two times.

Going once, going twice . . . sold to Fischer and Goldberger for
$150,000. “You got it,” a smiling Fischer tells Eli. Mazel tovs are
exchanged. These are boom times in an estimated $2 billion industry
that involves the buying and selling of domain names and pay-per-click
advertising revenue for the owners of the names.

“This
industry is like the Wild, Wild West right now and people have no idea
how fast it’s growing,” said Jerry Nolte, managing partner of
Domainer’s Magazine.

Experts believe the industry’s market
value could reach $4 billion by 2010 as people continue to purchase
approximately 90,000 names a day. At the end of first quarter 2007, at
least 128 million domain names had been registered worldwide, a 31
percent increase over the previous year, according to industry-tracker
VeriSign.

One name – creditcheck.com – went for $3
million, but paled in comparison to the sale of sex.com, which sold for
$12 million last year.

Copyright
2007 Associated Press. All rights reserved. This material may not be
published, broadcast, rewritten, or redistributed.

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