Top Level Domain Holdings secures .WEDDING but loses .GREEN

Top Level Domain Holdings Limited (LON:TLDH) said on Tuesday it has won the uncontested application rights for .WEDDING.

The net cost of securing this status is £1.39mln. The figure quoted includes funds it will receive from its unsuccessful participation in the auction of the .GREEN domain name as well as a rebate from the industry body ICANN.

TLDH is targeting the new generation of top level domains – the letters at the end of a web address such as .COM and .UK.

It has landed a number of potentially lucrative names such as .RUGBY, .FISHING and .BEER and is working for the owners of .LONDON.

A series of auctions are taking place for the most valuable and sought after names. While the winning bidders become custodians of the names, the losers share the proceeds – hence the payment for withdrawing from the .GREEN auction.

TLDH now has a portfolio of 26 uncontested applications in which it has a commercial interest.

The group, which recently raised £21mln, is changing its name to Minds + Machines as well as its status – from investment firm to operating company.

Preparations for this are well advanced, TLDH said, with a circular and notice of a shareholder meeting expected to go out early next month.

Chairman Fred Krueger said: “The latest private auction rounds have once again delivered an excellent result allowing us to add a key string to our portfolio without unduly impacting our cash reserves.

“We likewise are pleased with the progress being made in transitioning the group into an operating business trading under the brand of our registry and registrar services, Minds + Machines.”

Broker N+1 Singer said it saw “very strong” potential in the .WEDDING top level domain.

Analyst Tintin Stormont noted that every year an average of 2.4mln weddings are performed in the US alone representing a US$50bn annual industry, while in the UK, the industry is estimated to be worth around £10bn annually.

“With the recent announcement that .LONDON will be launched on the 29th of April, we believe the news flow around TLDH will continue to highlight how well-positioned it is in the sea-change that will be taking place in the Internet landscape.”