Registering free domains and selling them on higher rates is not a new business for many companies but this time a individual named Mike Mann breaks all records with registering 14,962 domains in less than 24 hrs. Mann register 1,822 domains starting Tuesday evening and the rest on Wednesday.
Mike Mann is not like other companies who only register common names but he registered new names and different from current needs. According to cnet, Mann, who's 45 and lives in Delaware, joined the dot-com land grab relatively early, in the late 1990s. He had founded an ISP called Internet Interstate, but one day in 1998, much to his surprise, he got a $25,000 offer for a domain he owned, Menus.com. The following day he got a $50,000 offer.
Some people also looking for the expired domains or about to expire one. Its very hard to find out the expiry date of already register domains but some people wrote scripts to trace on the registrars, working in the dark of night to catch names the nanosecond they expired, or dropped. And on same time frame they tricked to register them to bid on high rate later. The master of the domain business game & drop catchers was a mysterious man named Yun Ye, who built a portfolio he sold to the now-public marchex.com in 2005 for $164 million.
Mike Mann was built up a business called BuyDomains and then sold to Boston-based Highland Capital for about $80 million. That business is now called NameMedia. Mann was busy with other ventures that he started up - nothing to do with buying and selling domains. Some two years back, he got back to registering domains and he has been registering some 300 domains a day. The sale of the domains gets him some $400,000 a month.
Though its not always a good idea to keep large number of domains and wait until they sold out. The domain buying and selling business nowadays going down as more top-level domains coming up. Now companies have more options and they better feel to go for .co or .me etc domains or sometimes they use similar spell names to looks like one they needed. We can't say if the business of Mike Mann is illegal and against the law and its done just like other business as usual. But still some people saying that its illegal business and need to be sensor and set proper regulations and laws for it.
Mike Mann is not like other companies who only register common names but he registered new names and different from current needs. According to cnet, Mann, who's 45 and lives in Delaware, joined the dot-com land grab relatively early, in the late 1990s. He had founded an ISP called Internet Interstate, but one day in 1998, much to his surprise, he got a $25,000 offer for a domain he owned, Menus.com. The following day he got a $50,000 offer.Some people also looking for the expired domains or about to expire one. Its very hard to find out the expiry date of already register domains but some people wrote scripts to trace on the registrars, working in the dark of night to catch names the nanosecond they expired, or dropped. And on same time frame they tricked to register them to bid on high rate later. The master of the domain business game & drop catchers was a mysterious man named Yun Ye, who built a portfolio he sold to the now-public marchex.com in 2005 for $164 million.
Mike Mann was built up a business called BuyDomains and then sold to Boston-based Highland Capital for about $80 million. That business is now called NameMedia. Mann was busy with other ventures that he started up - nothing to do with buying and selling domains. Some two years back, he got back to registering domains and he has been registering some 300 domains a day. The sale of the domains gets him some $400,000 a month.
Though its not always a good idea to keep large number of domains and wait until they sold out. The domain buying and selling business nowadays going down as more top-level domains coming up. Now companies have more options and they better feel to go for .co or .me etc domains or sometimes they use similar spell names to looks like one they needed. We can't say if the business of Mike Mann is illegal and against the law and its done just like other business as usual. But still some people saying that its illegal business and need to be sensor and set proper regulations and laws for it.
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