Feeds

VeriSign to revamp secondary domain biz

Going wholesale

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

VeriSign Inc next month will re-launch its GreatDomains domain name resale service, dropping its retail auction model in favor of a wholesale system that will be made available to all of its registrar channel partners, ComputerWire has learned.

The service, expected to be announced next week, will be called Name Store. Coming shortly after the closure of its only major rival, Register.com Inc's Afternic service, it represents VeriSign's attempt to bring its successful registry model to a market that has not grown as quickly as thought.

While the secondary market for domain names saw some action at the end of the dot-com boom, with names such as Business.com fetching millions, the introduction of new top-level domains such as .biz and the general slowness of the market means growth has not been as big as expected.

"Essentially we're offering a secondary market program to all the registrars we service," a VeriSign spokesperson said. She said the company has been planning the move for some time and thinks it will "make a lot of sense" to registrars and customers alike.

After the changes, coming January 15, all current GreatDomains customers will have their listings removed from the service, and will lose their domain "parking" service. Only orders entered before January 15 will be honored.

Under the new wholesale service, customers must select a registrar, which will charge a listing fee for fixed-price sales below $5,000. It is expected the listings will be centrally pooled and each registrar will be able to offer customers the chance to search the list of domains for sale.

While the service will apparently be operated by VeriSign Global Registry Services, which also runs the .com and .net domain registries, its launch will not require the approval of industry overseer ICANN, which has previously annoyed the company by dragging its feet approving new registry level services.

VeriSign bought GreatDomains in a deal rumored to be worth about $80m in October 2000, a month after Register.com bought Afternic for about $50m. Both companies charged escrow fees for acting as a marketplace where speculators could advertise their names and entrepreneurs could shop for cool-sounding real estate.

Register.com said it was to close Afternic in is most recent quarterly financial results. The firm turned a loss after a sustained period of profit, and said it needed to cut more costs to get back in the black. Its decision to ax Afternic may mean the secondary market is difficult to pull off as a standalone retail business.

© ComputerWire

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.