Directi India’s leading privately owned domain name registrar, parking company, web hosting, software company are looking To raise between $50 Million-$100 Million For New gTLD’s Auctions.
According to a story in Vccircle.com, Directi Internet Solutions Pvt Ltd (Directi) is seeking to “secure a hefty sum between US$ 50 – 100 Million to fund its subsidiary Radix FZC“
Directi operates in many fields with there various businesses under the Directi banner.
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Radix (http://radixregistry.com) FZC is an active participant in ICANN’s process to expand the internet naming system, and will aim to obtain rights to operate several new generic top-level domains. Radix leverages Directi’s rich domain expertise, and is led by an able team which has helped flourish some of Directi’s existing registrar and web hosting businesses.
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Directi is a privately owned company founded by Bhavin Turakhia, Founder & CEO of Directi – Which is estimated to be valued at $300mm US Dollars and that was 5 years ago I would say the company is worth much more now.
Radix is going to have major competition for the following GTLD extensions .Web, .Shop, .News., Music, .Blog, .App just to name a few, where other applicants and potential bidders in an auction include Google, Amazon and Donuts, Minds + Machines and Famous Four.
Bhavin Turakhia was quoted in the story:
“There is going to be an auction for those top-level domains sometime next year, and while we have our own reserves to participate in the auction, we may add to our reserves by raising additional funds. We haven’t decided on the exact amount but it will lie in the $50-100 million range.”
So what do you think is this a smart move for the company? Will it pay off?
No one knows what is going to happen with GTLD and how commercially successful they shall be it could be 3 – 5 years before we know and some companies like amazon plan to keep their GTLD private and not open to the public which makes you wonder why are other bidding in them when Amazon who has billions in the bank might decide to go for them and keep them in house? If that is the case then what are the point of GTLD extensions if no one can ever register them?