MAN'S INVESTMENT EQUALS PAYOFF.COM.Byline: Jason Z. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Staff Writer UNIVERSAL CITY - Marcelo Siero's investment of a few minutes' time - and no money - became a huge payday Friday when he sold the Internet address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. loans.com for $3 million. The Silicon Valley computer consultant so far is the big winner in Universal City-based GreatDomains.com's online auction of three names expected to fetch at least six-figure prices. Bids for the other two names, taxes.com and cinema.com came in at $400,000 and $530,000, respectively. Those deals were still being negotiated late Friday. GreatDomains representatives declined to release the name of the winning bidders. Siero, who registered loans.com for free in 1993, could not be reached for comment. His payout pay·out n. 1. The act or an instance of paying out. 2. A percentage of corporate earnings that is paid as dividends to shareholders. falls short of the highest price paid to date for a single domain name. The record is held by Santa Monica-based eCompanies, which paid $7.5 million for business.com last November. Jeff Tinsley, chief executive officer of GreatDomains.com, said the winning bidder stands to bring in great revenue with such a strong online identity. Tinsley said the bidder is a large public company, but he declined to go into greater detail. Siero of San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. registered the domain name, the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the equivalent of an address, before the Internet Network Information Center (networking) Internet Network Information Center - (InterNIC) An umbrella entity created by the National Science Foundation in Spring 1992, in cooperation with the Internet community, consisting of Network Information Service Managers who provided and/or coordinated NSFNet services. began charging people for the privilege. Today, the process is managed by Network Solutions, which charges users $35 per year to register domain names. Registrants pay for the first two years initially. That small investment can pay huge dividends, as Friday's sale illustrates. ``We're making millionaires of people who spend $70 at the right time,'' Tinsley said. While some domain names sell for a combination of cash and equity or a promise of future profits, the sale of loans.com was an all-cash deal, Tinsley said. ``This is $3 million right now,'' Tinsley said. ``That's a big difference.'' As the auction wound down, about 20 people gathered in the company's office, five of them working the phones to try to squeeze as much out of the sale as possible. The end result was somewhat deflating since the selling price of loans.com was forecast to be in the range of the fee for business.com. GreatDomains gets a cut of between 7 percent and 20 percent of Siero's money for marketing and administering the auction. Paying more than $1 million for what amounts to an address is increasingly common. ``The price paid is either absurd or it's not - depending on your point of view,'' Clay Rider, vice president and chief analyst for Zona Research in Redwood City Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , said last week. ``What they spend on advertising them far outstrips the amount of money paid for the name.'' CAPTION(S): photo Photo: Signs at GreatDomains.com in Universal City show Internet domain names An organization's unique name on the Internet. The chosen name combined with a top level domain (TLD), such as .com or .org, also called a "domain extension," makes up the Internet domain name. For example, computerlanguage.com is the domain name for the publisher of this Encyclopedia. that were fetching fetch·ing adj. Very attractive; charming: a fetching new hairstyle. fetch  ing·ly adv. handsome prices at auction Friday. One, loans.com, went for $3 million. David Sprague/Staff Photographer |
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