Amazon Beats Out Google to Win .buy Domain For $4.6 Million
Amazon outbid Google and three other companies to purchase the .buy domain for $4.6 million Thursday. The coveted domain was put up for auction by the Internet Corporation for Assigned Names and Numbers (ICANN).
Amazon has yet to make public its plans for the domain. Companies bid amounts they’ll pay during a round of bidding, then other companies get a chance to outbid them in the next round, until there’s just one company left.
In this case, Google bowed out in the final round, leaving Amazon as the domain’s new owner.
According to Business Insider, Google planned to purchase the .vip domain name, but was outbid by other companies for that, also.
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