Directi Looking To Raise $50 Million-$100 Million For New gTLD’s Auctions

According to a story in Vccircle.com, Directi Internet Solutions Pvt Ltd (Directi) is seeking to “secure a hefty sum between US$ 50 – 100 Million to fund its subsidiary Radix FZC“.

Directi through its Radix subsidiary has already allocated $30 Million for its 31 new gTLD applications, according to this story they are seeking additional funds to cover the cost of anticipated auctions for some of the new gTLD’s.

Many of Directi new gTLD applications have heavy competition including .Web, .Shop, .News., Music, .Blog, .App just to name a few, where other applicants and potential bidders in an auction include Google, Amazon and Donuts, Minds + Machines and Famous Four.

Bhavin Turakhia was quoted in the story:

“There is going to be an auction for those top-level domains sometime next year, and while we have our own reserves to participate in the auction, we may add to our reserves by raising additional funds. We haven’t decided on the exact amount but it will lie in the $50-100 million range.”

We have heard predictions that some strings may hit $50 Million or more at auction so $100 Million may not even be enough to win a bunch of these.

With all this money from new gTLD auctions going to ICANN applicants should really consider using a private auction model as I outlined in a post on  CircleID.com a couple of months ago.

 

Comments

  1. Ron says

    Yes, about time these pigs start paying in auctions, they have been auctioning off other peoples drops for years for their profit, hope big 3 bid them into bankruptcy.

    I would rather invest my money into facebook, and that would truly be a last resort than into this nonsense.

  2. JamesD says

    Funny game these new tlds – I read sevenmile earlier and was suprised how far in FS is…almost like a new convert to a religion. Reminiscent of when .mobi was starting up only in totally the opposite direction.

    He said that half the new applications were ‘great’ – I’d say more than half were utterly pointless. The best of the rest destined to be niche.

    There will be money made from these new extensions, but there will be those that lose big. Some appear to be going all in because of fear of losing out, and that is never the right reason to invest.

  3. BrianWick says

    It still boggles the mind how many folks are not in line with .com or anything else.
    That said how many folks will buy a new non.com when they become overnight experts and tell the .com owner how much they know – I cannot be the only one getting all that unsoliciated “knowledge” :)

    This translates to many of these new non.com registries making fortunes selling stuff to these new overnight “geniuses”.

  4. BillW says

    For some smart marketers, domainers and registrars these new gtlds are already a license to print money selling services (defensive and offensive) to major corporations, organizations and governments! Not to mention managing the gtlds on long term contracts etc. On the other side there are investors that will lose millions with worthlessnew gtlds.

  5. Aggro says

    Agree with Ron

    I hope all of them bid each other sky high – so that even the winners end up years before they ever breakeven, crippling themselves financially

    When it comes down to it, a lot of these guys implied wealth (based on their holdings) ain’t worth as much as they wished the world to believe

    In real liquid terms, they ain’t got all that

    That includes Schilling, Schwartz, Ham, Bhavin Turakhia et al

    We will see who has the money after the pissing contest is over & done with

  6. Aggro says

    @ JamesD

    FS started acting funny – before applying for these new gTLDs – when he had that goatee, bleached blonde look

    Must be a mid-life crisis

    LOL

  7. David says

    When the auctions are over and the whole gTLD fiasco causes confusion and implodes, the people who spent millions of dollars will wish that they had just bought some relevent dot coms.

  8. Donny says

    Google will out bid everyone with .web, drop in the bucket for them.
    None of these outfits have the platform to make these extensions successful except for maybe 5 companies. apple, micro, amazon, google and ?

    JMO

    Donny

  9. Jeff Schneider says

    Hello Rick, Frank, Michael,

    We agree. Virtual business foundations!

    Kudos.

    Sincerely, Jeff Schneider (Metal Tiger). Date 8-21-2012

    ps. i’m going on holiday, please feel free to post this on every post

  10. says

    Hello MHB,

    The comment supposedly by me on this thread is a spoof comment by one of the resident dirtbags who know who they are.

    PLEASE REMOVE For Integrity issues. Thanks Jeff

    Also if you can trace the person who did this please let me know.

    Gratefully, Jeff Schneider (Contact Group) (Metal Tiger)

  11. says

    The Money is there to sell them to the last mile user. With GTLDs in my pocket, i will, as a business never be able to make a correct business preposition for the Investor as there is no proven sales that can be achieved out of the sales happening on these GTLds.

    Yes, an Investor may like to invest and make money on the content – but Policies in India are very fluid. The content market itself will need to be watched closely – for it is yet to evolve !

    cheers
    -VA
    va@bladebrains.com

    Vaibhav is an Independent Brand and a Business consultant.

  12. says

    Directi don’t seem like professional players..
    Plus there is no trust in the CEO!
    Directi claiming to be $300 million dollar worth for 4-5 years now! they had no big turn overs??? nothing they wanna report ?

    Investing $50 million? Directi? doesn’t seem like a good idea !

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