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Demand Media® (NYSE: DMD) today announced that it is pursuing new generic Top Level Domains (gTLDs) as part of ICANN’s (Internet Corporation for Assigned Names and Numbers) expansion of the Internet domain name space.
“We believe the new gTLD program represents a significant milestone in the evolution of the Internet,” said Richard Rosenblatt, chairman and CEO, Demand Media. “In addition to delivering more choice for consumers and business owners, we expect the domain name expansion to spur innovation and new business opportunities.”
Demand Media is pursuing a diverse portfolio of gTLD names intended to help bring millions of digital destinations to life. Guided by a proprietary, data-driven methodology, the company selected gTLD names in categories connected to an extremely broad range of interests and capabilities including: ecommerce, personal & professional identity, education, entertainment, internet life, sports, small business and social media.
As part of this initiative, Demand Media has applied for 26 names on a stand-alone basis. In addition, Demand Media has entered into a strategic arrangement with Donuts Inc., an Internet domain name registry founded by industry veterans, through which it may acquire rights in certain gTLDs after they have been awarded to Donuts by ICANN. These rights are shared equally with Donuts and are associated with 107 gTLDs for which Donuts is the applicant. Further, as previously announced, a subsidiary of Demand Media has been selected as the technical registry operator for both Demand Media and Donuts.
“The gTLDs we seek naturally reflect and organize the world around us and will help consumers more seamlessly discover and connect with the people, information and organizations of importance to them,” said Taryn Naidu, executive vice president, Demand Media. Donuts CEO, Paul Stahura, added, “As previously announced, Donuts has raised more than $100 million in funding to pursue the new gTLD opportunity. Donuts’ strategic arrangement with Demand Media takes us well beyond that $100 million funding and enables both companies to utilize additional resources, expertise and talent to generate the most value and benefits for customers from this historic opportunity.”