Chaos reigns, and everyone’s website ends in 5 numbers like an AIM screenname.
As “.com” domains become fewer and farther between, companies are spending up to $100m in application fees for new digital namesakes like “.nike,” and “.mcdonalds.”
Because, as it turns out, if someone already owns the domain you want…
There’s nothing you can do about it
Unless you have a lot of cash to burn like HomeAway, which paid $30m for vacationrentals.com back in 2012.
And when cash isn’t enough, some companies even throw in equity — Uber actually traded 2% of the company’s shares to Universal Music for uber.com (worth about $1.4B at this point).
But the landscape of the web could now be changing
ICANN, the entity that oversees and organizes the internet, now lets companies apply for “.brand” extensions for about $185k — often cheaper and easier than dealing with an internet troll.
Plus, owning the entire extension gives you control over who can register, making it impossible for someone to hold your DNS for ransom.
(via The Hustle)