ASIA

A $185,000 Bet on .XYZ

A powerful Pacific storm blew into Southern and Central California on Friday with wind-driven heavy rains that downed power lines and electrocuted a man, killed a motorist in a submerged car and disrupted hundreds of flights at airports. With the storm feeding on an atmospheric river of moisture stretching far out into the Pacific, precautionary evacuations of homes in some neighborhoods were requested due to the potential for mudslides and debris flows.

Young entrepreneur Daniel Negari spent $185,000 in hopes of making the new .xyz  domain a household name. Negari said he made his investment back in the first month of business and his new domain is attracting many people around the world wanting to create a new website or new brand.

“I applied for .xyz,” he said. “I figured you end the alphabet with xyz, so you should end a domain name the same way.”

Negari applied for and bought the .xyz top-level domain name from ICANN and now sells off his individual addresses at $8 a piece to registrars such as GoDaddy, which then sell them to consumers. Business is good, and he has sold off about 800,000 domain names since last June, he told Press:Here.

Scott McGrew said that he hasn’t seen the .xyz domain much, but Negari said that it can take several months before users actually put up a site.

“We have sold 30 percent in the Americas, 35 percent in Asia, and the rest all over the world,” he said.

Most are small businesses and first-time domain holders, he said.

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