Its January 1 & We Are $750,000 In The Hole
We wish you a Happy New Year and now that the clock has hit 1.1.11 its another year and we start it out $750,000 in the hole.
We own around 75,000 domains and with a carrying cost of lets just call it an average of $10 a year meaning that we will owe $750,000 in registration fees in 2011.
Its a huge nut although some domain portfolio holders have hundreds of thousands or even million or domains, so they woke up this morning to a bill in the millions of dollars.
Its no wonder that some domainers are supporting the CFIT litigation against Verisign whose contract allowed four 7% rate increases in a time where there was 0% inflation.
Its good to be a monopoly.
But that’s another post for another day.
So we welcome the new year, but are reminded come Monday we have to go to work and make over $2k a day just to pay Verisign its fees.
Happy New Year.