A $185,000 Bet on .XYZ

Young entrepreneur Daniel Negari spent $185,000 in hopes of making the new .xyz  domain a household name. Negari said he made his investment back in the first month of business and his new domain is attracting many people around the world wanting to create a new website or new brand.

“I applied for .xyz,” he said. “I figured you end the alphabet with xyz, so you should end a domain name the same way.”

Negari applied for and bought the .xyz top-level domain name from ICANN and now sells off his individual addresses at $8 a piece to registrars such as GoDaddy, which then sell them to consumers. Business is good, and he has sold off about 800,000 domain names since last June, he told Press:Here.

Scott McGrew said that he hasn’t seen the .xyz domain much, but Negari said that it can take several months before users actually put up a site.

“We have sold 30 percent in the Americas, 35 percent in Asia, and the rest all over the world,” he said.

Most are small businesses and first-time domain holders, he said.

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