15,000 Domain Names Up for Auction At Afternic.com; Auction Site Features More Domain Names Than Yahoo, Amazon, E-Bay, Lycos and Microsoft's MSN.com Combined.NEW YORK--(BUSINESS WIRE)--Dec. 1, 1999-- Afternic.com, the Domain Name Exchange, has attracted more than 15,000 top quality domain names after less than two weeks of operation. That's more domain names than Yahoo, Amazon, E-Bay, Lycos and Microsoft's MSN (1) (MicroSoft Network) A family of Internet-based services from Microsoft, which includes a search engine, e-mail (Hotmail), instant messaging (Windows Live Messaging) and a general-purpose portal with news, information and shopping (MSN Directory). .com combined. This explosive growth in listings has surpassed company expectations and establishes Afternic.com as the first choice for individuals interested in buying or selling domain names. Neil Ticktin, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Xplain Corporation, currently has a name for auction on Afternic.com: "In deciding to sell Friends.net, we were obviously looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a decent price, but just as important, we wanted to make sure that any offers we got were legitimate and that the process was hassle free. "We were immediately impressed with Afternic's name management tools and their auction engine's flexibility. Afternic's authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. of buyers and sellers and their escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. process, made us comfortable with the security their site provided." Browsing through the names can be illuminating, as research indicates that nearly 97% of single words in Webster's dictionary Webster's Dictionary - Hypertext interface. are already registered. Sellers using Afternic.com are offering some of those very valuable individual words as well as some imaginative and important combinations. For example, those trying to stake out an advertising Web site can bid on Uspromotion.com, Onadvertising.com, Hotadvertising.com and Agencydirect.com. Other quality names on the site such as Themechanic.com can be had for as little as $155, while names like Derivative.com are starting at six and seven figures. "The value of individual domains can vary greatly from name to name," said Chris Maroney, co-CEO of Afternic.com. "Until now, there has never been an open forum where market demand would dictate resale prices. In designing Afternic.com, we were confident we could provide a means for people to buy previously registered names while still rewarding the individual entrepreneurs and companies both large and small who saw the potential value of domain names long before most people did. "Just the same," Maroney adds, "even we are surprised at just how fast Afternic.com has caught on." Afternic.com provides a wealth of information including domain name news, market trends and history, and community appraisal boards to enable both buyers and sellers to make informed decisions. An easy-to-use auction mechanism allows both parties to follow individual names and auctions, place proxy bids Proxy bidding is an implementation of an English second-price auction used on eBay, in which the winning bidder pays the price of the second-highest bid plus a defined increment. and monitor the bidding on the names for sale. People searching for a domain name can browse by category or conduct searches using criteria including keywords, number of characters in the name, price or length of auction. "Although some domain names appear very expensive, their potential for e-commerce use is driving transactions, such as the recent $7.5 million that Business.com fetched," notes Jon Whelan, co-CEO, Afternic.com. "Acquiring a domain name is one of the first steps for any new company, and with the scarcity Scarcity The basic economic problem which arises from people having unlimited wants while there are and always will be limited resources. Because of scarcity, various economic decisions must be made to allocate resources efficiently. of good names, there is a huge need for an exchange such as ours." "It's been thrilling to see how quickly Afternic.com has attracted attention," gushes Maroney. "The creativity and foresight that others have brought to the site has immediately made it a very significant player in the e-commerce world." About Afternic.com Afternic.com, the Domain Name Exchange, is a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation currently headquartered at 416 West 14th Street Suite 403, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10014. |
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