NameSilo Technologies Corp. announced that further to its news release dated December 1, 2020, the Company has elected to cancel the sale of NameSilo, LLC and has issued a notice of termination to WGH Holdings B.V. (the prospective buyer).
Paul Andreola, CEO of NameSilo Technologies states: “We believe that the value of Namesilo has grown significantly since the discussions with the prospective buyer began and feel that there is more value to be unlocked over the near to medium term for shareholders. NameSilo is a growing, cash-flow positive business with record revenues that has achieved the recent and important milestones of hitting 4 million domains under management and has entered the top 10 .COM registrars in the world. With its significant base business well established the Company will move towards aggressive growth of commercialization opportunities with a strategic focus on developing new synergistic businesses over the coming quarters”.
As announced in our August 27th, 2021 press release, NameSilo LLC achieved record revenues of $8.4 million in Q2 with a 17.2% gross profit margin and record bookings of $9.9 million.
Kristaps Ronka, CEO of NameSilo tech says: “NameSilo LLC is a provider of domain names, hosting, email and other Internet services. Over the past year, NameSilo has enhanced its front-end website and backend code base, as well as rolled out a mobile optimized shopping cart experience. This has resulted in increased load speeds for our customers around the world and directly led to higher conversion rates across our services.
NameSilo has also launched two new leading-edge products to further drive customer success. First is a new brokerage platform, NameLot.com, for domain investors to sell their domain names. Second is a new service to complement NameLot.com, called BrandLot.com, which helps small and medium sized business (SMB) users procure a domain name and website.
NameSilo will continue to deliver unbeatable value for its customers, including a planned launch of a state-of-the-art powerful SMB product in the coming year.”