07|16|2009 07:37 pm EDT
According to a filing with the Australian Stock Exchange (PDF), Dark Blue Sea (ASX:DBS, the parent company of Fabulous.com and the Domain Distribution Network (DDN), domain registrar GoDaddy has canceled their distribution agreement. This means that as of August 13th, 2009 GoDaddy is no longer listing domains from their own “Fabulous Domains” portfolio and domains from other sellers under this distribution agreement. According to the announcement GoDaddy has not provided a reason of the cancellation of the agreement and DBS is awaiting some additional information from them. In the meantime DBS plans to emphasize their own sales channel in order to avoid an adverse affect on their sales numbers.
Read the full announcement after the jump.
DARK BLUE SEA LIMITED
ACN 091 509 796
Date: 17 July, 2009
GoDaddy Domain Sales Agreement Termination
Dark Blue Sea advises late yesterday that it received a notice from GoDaddy that
they will be terminating the “Domain Name Sales Distribution Agreement” effective
13 August 2009.
The company has contacted GoDaddy to seek further information regarding the
notice and is awaiting a response.
Dark Blue Sea will assess the effect of termination going forward, but believes that
the impact of this may have a material adverse affect on future revenue and profit.
GoDaddy is one of a number of partners with whom Dark Blue Sea makes domain
sales. Management is actively seeking to increase sales through existing channels
as well as fast tracking a number of other channels already being pursued. The
company has it’s own sales channel that, whist it makes a material contribution to
overall sales, is one that the company has not aggressively pursued due to our
GoDaddy agreement. Management will immediately change the emphasis on our
About Dark Blue Sea
Dark Blue Sea is an online advertising intermediary or “internet traffic” broker
servicing a global customer base from its office in Brisbane. Dark Blue Sea has
developed and successfully manages a number of world-class commercial Internet
- Roar and PageSeeker, pay-per-click advertising portals;
- Fabulous, an ICANN accredited domain name registrar and domain name management system;
- Dark Blue, an online advertising affiliate network;
- Domain Distribution Network; and
- Domain Name Portfolio.
Fabulous, Dark Blue and Roar / PageSeeker provide a fully integrated package for
the generation, management and monetization of “internet traffic”. “Internet traffic” is
directly analogous to shopping centre floor traffic.