Dot SHOP Sells for $41.5 Million

Japanese domain name company GMO Registry will control the .SHOP top level domain name.

An auction for the rights to the new TLD finished this week with a whopping price of $41.5 million. GMO's bid for the hotly contested top-level domain beat out several others including Amazon and Google.

GMO says .shop will be an open, unrestricted namespace however the company is forbidding speculation and trading of domains under the TLD. "Registration of a .SHOP domain name solely for the purpose of selling, exchanging, trading, leasing the domain name shall be deemed as inappropriate use or intent."

ICANN has reportedly collected over $100 million from new top level domain name auctions.

Peter Devereaux

As the Editor-in-Chief of Website Magazine and President of Website Services, Peter has established himself as a prominent figure in the digital marketing industry. With a wealth of experience and knowledge, Peter has been a driving force in shaping the landscape of digital marketing. His leadership in creating innovative and targeted marketing campaigns has helped numerous businesses achieve their revenue growth goals. Under his direction, Website Magazine has become a trusted source of information and insights for digital marketers worldwide. As President of Website Services, Peter oversees a team of talented professionals who specialize in SEO/SEM, email marketing, social media, and digital advertising. Through his hands-on approach, he ensures that his team delivers exceptional results to their clients. With a passion for digital marketing, Peter is committed to staying up-to-date with the latest industry trends and technologies, making him a sought-after thought leader in the field.