Afternic.com Partners With Domainrace.com to Co-Promote Private Domain Name Auction; Marquee Names Headline Largest Single-Day Auction Ever.NEW YORK--(BUSINESS WIRE)--Dec. 17, 1999-- Afternic.com: The Domain Name Exchange, is pleased to announce a partnership with DomainRace.com - affiliated with Eric Wade, the man behind the sale of Wallstreet.com for more than $1M US earlier this year. The private auction will take place on Tuesday December 21st, and features over 600 quality domain names including Jeans.com, Airline.com, and Trades.com. In tandem Adv. 1. in tandem - one behind the other; "ride tandem on a bicycle built for two"; "riding horses down the path in tandem" tandem with Wade, Afternic.com will provide live bidding updates at http://www.afternic.com on the names listed for sale at http://www.domainrace.com. Additionally, Afternic.com will provide promotional considerations for the Tuesday, December 21st event, expected to be the largest single day domain name auction in history. Auction details can be viewed at Domainrace.com. No later than 24 hours prior to bidding, Domain Race will inform the pre-qualified bidders of phone and fax numbers, and email addresses See Internet address. to be used for bidding. Based upon bidder interest and anticipated peak demand, Domain Race may elect to designate contact phone number and email addresses for each lot. Winning bids totaling in excess of $10M US each are expected for Jeans.com, Trades.com, Outfitters.com, PublicRelations.com, and QueHora.com. Many other quality names are available either individually or in sets during the 24-hour event. Domain names are much more than just a Web address. These important digital assets can mean the difference between success and failure in the online marketplace of today. Warren Sly, a branding and new product specialist auctioning names with the DomainRace.com event says, "'Tattoo' branding like Merrill Lynch's (NYSE NYSE See: New York Stock Exchange : MER mer Among the Cheremi and Udmurt peoples of Russia, a sacred grove where people of several villages gathered periodically to hold religious festivals and sacrifice animals to nature gods. ) ml.com requires millions of dollars to re-educate re·ed·u·cate also re-ed·u·cate tr.v. re·ed·u·cat·ed, re·ed·u·cat·ing, re·ed·u·cates 1. To instruct again, especially in order to change someone's behavior or beliefs. 2. the public. Buying a domain builds traffic, awareness, and a brand. And like a trademark, it can last forever. I'd take that and pre-emptive pre·emp·tive or pre-emp·tive adj. 1. Of, relating to, or characteristic of preemption. 2. Having or granted by the right of preemption. 3. a. mindshare any day." Entrepreneurs such as Mr. Wade recognized early on that domain names were not merely potential Web addresses. "The recent sale of Business.com proved there is another reason besides branding and eyeballs The number of users. "There are 110 eyeballs" means there are 110 users currently online. See eyeball hang time. to buy a quality domain -- investment. Bringing high quality names together provides synergy and value to a potential single investor or group. Clearly, the gain on business.com was high enough to satisfy even the most demanding venture group," Wade says. The partnership with DomainRace.com is the first such arrangement for Afternic.com. "Afternic.com is pleased to work with Eric in promoting this private auction," states Chris Maroney, co-CEO of Afternic.com. "Eric and his partners clearly saw the extraordinary returns that can be achieved by shrewd domain name investing and their vision will be rewarded by the market." Afternic.com: The Domain Name Exchange, is building up its global broker network and will be working closely with domain name brokers and investors to develop services and tools that enable the growing secondary market for domain names to flourish. "As a trusted, neutral third party, we look forward to working with name brokers to revolutionize rev·o·lu·tion·ize tr.v. rev·o·lu·tion·ized, rev·o·lu·tion·iz·ing, rev·o·lu·tion·iz·es 1. To bring about a radical change in: Television has revolutionized news coverage. 2. the aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. for domain names," says Jon Whelan, co-CEO of Afternic.com. "The market to date has been characterized by closed door deals which have bred mistrust and market uncertainty to the detriment of both buyers and sellers. We're confident that in building the world's leading Domain Name Exchange, individuals, brokers, corporations, and NIC's will become accustomed to working together. We aim to erase the uncertainty and mistrust by providing services the domain community can use and trust." Wade added, "A third party exchange like Afternic.com is necessary to provide buyers and sellers of domain names a medium of trade with integrity." ABOUT AFTERNIC.COM: After less than a month of operation, Afternic.com has become the premier Exchange of domain names on the Web. As a secure platform for the management of domain name assets, Afternic.com features a robust set of portfolio management tools enabling community members to list names for sale, place bids on names for sale individually or by proxy, track bidding, and participate in community appraisal boards. Based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Afternic.com Inc, is currently a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. . |
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