.STORE grosses over $1 Million before the close of Day 1

 

Figure includes revenue earned from Premium Names, Sunrise and Registration Fees

 

DUBAI, United Arab Emirates, June 17th, 2016 -- New gTLD Portfolio Registry, Radix launched its latest TLD .store, into General Availability earlier this week. Positioned as the domain for businesses of all sizes looking to sell online, .store was off to a flying start with 10,000 registrations in the first 10 minutes. It closed the 24 hour mark at 25,026 registrations.

At $300,000, premium names were a strong contributor, despite including only the first year revenue from tiered, annuity premium names. .store continues to see an unprecedented, early demand for generic key-word and 2 character names from established brands. Several high-value 2 character domains like qq.store, c9.store that have been sold for undisclosed amounts, and generic words like t-shirts.store and stars.store were sold for one-time fees of $25,000 and $10,000, respectively. Only counting those from well established brands, there are a further 10+ names in the premium names sales pipe-line, most of which are deals that are conditional to actual usage of the names.

VP & Business Head of Radix, Sandeep Ramchandani added "Our strategy for .store is to develop it ‘top-down’, and its immensely encouraging to see proactive interest from large brands. As we see many of them developing and promoting their .store names over the months to come, our task of convincing the medium and micro retailers will become a lot easier. While it’s nice to reach a revenue mile-stone much earlier than expected, our long-term success rides on building .store into a credible name-space, which drives a sizable value of e-commerce business."

At the end of day 1, Aliyun was the leading Registrar followed by GoDaddy and West.cn

6 applicants including Google, Amazon, Donuts, Uniregistry had originally applied for the .store TLD. Radix secured exclusive rights to run the .store extension through a private contention resolution in February, 2015.


About Radix:

Radix (Radix FZC) is a portfolio Registry for new domain extensions and has secured uncontested registry rights to .website, .press, .host, .space, .site, .tech, .online and .store. It is also in contention for several other new domain extensions including .web. Radix is Asia's largest new gTLD applicant, playing a substantial role in the global diversification of the Internet namespace.