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04|01|2007 03:32 am EDT

.com Domain Space Shrinks as Oil Money Corners Market

by Adam Strong in Categories: April 1

A news release sent to Domain Name News today announces that all remaining 3,4,5 and 6 letter .com domains are now registered. Sheikh Al Futain a wealthy Saudi recently decided to dive head first in to the domain space by locking down all of the remaining shorter domain names.

Al Futain purchased over 300 million domains at roughly $2 billion dollars, instantly making him the world’s largest domain name portfolio holder. When Domain Name News asked about his $2 billion holdings and his plans for them Al Futain was very private, but like other top domainers he has plans to develop them all into great portals. “We have a great development team lined up and they are ready to go. We’ve got some great social networking features and some really exciting web 2.0 stuff.” Al Futain also expressed some of his disappointments in not being able to secure all the 3-6 letter .com domains “There were only 300 million left. We were very disappointed that we could not acquire more.”

The domain name registrar that inked the deal, NameCheap.com, has decided to create a separate division dedicated exclusively to wealthy domain investors. The new base of operations headquartered in Dubai will focus on securing new clients who may be interested in the next big domain investments in the 7 and 8 letter .com space. Company spokesperson Courtney Lovespot said, “License plates were the big vanity investment item over here, but that’s passé. Now the wealthiest people want to have the shortest .com domains and as many of them that they can get their hands on. We’re dedicated to helping these exclusive clients achieve their dreams.”

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2 Comments

Idomains

April 1, 2008 @ 12:41 pm EDT

Funny how there are still 3,4,5 letter domains available right now.

Adam Strong

April 1, 2008 @ 12:42 pm EDT

not if you searched for them at NSI ;)

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