Owning a popular domain name can be big business.
This is the opinion of dot com expert Keith Shanahan, who told the Kipp Report that last year Korea.com was sold for $5 million, while Russia.com went for $1.5 million.
He pointed out that the term “the Middle East” is searched for over 2.7 million times per month on Google, which highlights the development potential for anyone who wants to create a website.
Mr. Shanahan observed that when it comes to .com and .net, the former is usually around 100 times more valuable.
“It’s a first-come first-serve scenario and the owners of .net and .org may not build a website on those suffixes because the .coms are the real money bringers,” he added.
Because of this, businesses looking to protect their brand online should try to make sure they secure the most relevant domain name possible.